Page 14 - Aathira Varier

Stabilising sector: Task cut out for new Irdai chairman Ajay Seth

With major reforms underway and growth tapering, Seth's key challenge will be to stabilise the insurance sector and steer regulatory transitions

Irdai proposes internal ombudsman to address claims up to ₹50 lakh

The ombudsman will apply to insurers with over three years of operations, be empowered to handle claims up to Rs 50 lakh, and offer time-bound grievance redressal

Outward remittances under RBI's LRS fall 4.4% to $2.3 billion in May 2025

RBI data shows decline in remittances for travel and education abroad while property and equity investments rise under Liberalised Remittance Scheme in May 2025

Entry of new players likely to intensify competition in reinsurance segment

New private players, including Valueattics Re, Jio Financial Services & Allianz are set to increase competition in India's reinsurance sector. However, experts believe GIC Re's position remains robust

Tesla's entry into India to bring innovation in EV insurance space

Tesla's entry into India will drive innovation in the EV insurance market, prompting insurers to rethink product offerings and embrace technology-driven solutions

NII growth pushes YES Bank's Q1FY26 net profit 59% higher to ₹801 crore YoY

While non-interest income grew 5.7 per cent, net interest margin (NIM), a key measure of a bank's profitability, remained steady in Q1FY26 at 2.5 per cent

Don't expect material change in bancassurance regulations: Vibha Padalkar

Vibha Padalkar discusses Q1 margins, policy trends, product mix and regulations

ICICI Lombard Q1FY26 results: Net profit rises 29% to ₹747 crore

ICICI Lombard reports 29% YoY rise in Q1FY26 net profit to ₹747 crore, driven by premium and investment income growth. GDPI up 0.6% YoY, while health segment sees strong retail growth

HDFC Life Q1 net profit rises 14% to ₹546 cr on premium growth

HDFC Life posts 14.2% YoY rise in Q1 net profit, driven by 19% growth in renewal premium and stable VNB margins; solvency ratio improves to 192%

Results preview: Insurance companies set for a profit bump in Q1 FY26

May get boost from enhanced margins, better op efficiencies

R Doraiswamy takes charge as LIC's MD & CEO for a three-year term

R Doraiswamy, a LIC veteran with over 39 years' experience, has been appointed MD & CEO for three years as the insurer sees a major reshuffle in its top management

Air India crash: Victims entitled to compensation, regardless of fault

Experts say Air India crash victims will receive compensation regardless of fault, with the insurance payout unaffected by pilot error or systemic failures

Sales of life insurance policies drop 10% in Q1FY26, shows data

Industry insiders pointed out that slowdown in credit life policies, due to subdued credit demand in the system, has also contributed to the drop in sale of life insurance policies

Intech Insurance Surveyors to assess Sigachi Industries' losses after blast

Company says they have taken insurance, which covers the plant, machinery, and employees

Life insurers' new business premium rose 4.2% in Q1 FY26, shows data

In April-June period of FY25, the life insurance companies posted nearly 23 per cent growth after the changes in surrender value norms effective from October 1, 2024

Non-life insurers' premiums rise 9% to ₹79,306 crore in Q1 FY26

General and standalone health insurers drive 8.85 per cent YoY premium growth in Q1FY26, but IRDAI's revised norms impact comparability with last year's figures

Central Bank stake to double bancassurance for company: Future Generali MD

State-owned Central Bank of India acquired a 24.91 per cent stake in Future Generali India Insurance for ₹451 crore

Number of bank frauds increased threefold in FY25, but amount dipped

The number of frauds related to credit/debit cards and internet banking rose over five times in FY25

As debate over obligatory cession rages, GIC Re could hold the solution

Whether obligatory cession should be cut to zero or retained could be resolved by allowing GIC Re to independently set commissions instead of Irdai mandating a fixed rate

Central Bank partnership to boost bancassurance: FGILI MD & CEO Alok Rungta

Alok Rungta, managing director and chief executive officer, FGILI, talks about the impact of the bancassurance channel and the company's growth strategies