Page 2 - Aathira Varier

Life insurers' new business premium rises 12% in October on GST relief

Exemption in GST nudged individual premium growth, policy sales

Pent-up demand boosted retail health insurance segment in October

According to data released by the General Insurance Council, standalone health insurers (SAHI) reported 38.3 per cent Y-o-Y growth in premiums for October, reaching ₹3,738.34 crore

Festivals, GST rejig boost average credit card spending by 15%: RBI data

Credit card spending surged in September 2025 on strong festive demand and GST rationalisation, with private lenders such as HDFC Bank and ICICI Bank leading the growth in per-card spends

Policyholders' views needed to make rules: Irdai Chariman Ajay Seth

Irdai Chairman Ajay Seth said the regulatory process must integrate policyholders' expectations and strengthen coordination among regulators to address overlaps and systemic financial risks

Regulators can work together to minimise overlaps: RBI Deputy Governor

RBI Deputy Governor Swaminathan J said regulators should coordinate to reduce overlaps and close gaps without hindering innovation, calling for proportional and outcome-based regulation

Festive season, GST relief boost per-credit card spend by 15% annually

Credit card spending zoomed during the festival season, aided by a rationalisation of GST rates, with private lenders leading the way

LIC Q2 profit surges 32% to ₹10,053 cr, net premium income up 5.5%

LIC's profit rose 32% YoY on stronger core operations and investment income, while CEO R Doraiswamy said GST rationalisation will drive business growth and expense optimisation

Niva Bupa may take hit of 50-60 bps on combined ratio after GST, ITC change

Niva Bupa expects a modest 50-60 basis point hit from GST-related ITC loss but aims to offset it through higher policy sales, revised distributor commissions, and cost efficiencies

Open to small or medium buying opportunities: Piramal Finance MD & CEO

Jairam Sridharan, MD & CEO, Piramal Finance shares the rationale of the entire exercise and the growth roadmap for the upper layer NBFC in a conversation with Aathira Varier and Manojit Saha in Mumbai

Festive season boosts Bajaj Finance consumer loan disbursals by 27%

Bajaj Finance disbursed 6.3 million consumer loans between September 22 and October 26, posting 29% growth in value and witnessing a sharp rise in new-to-credit borrowers

Health, motor insurance policy sales jump on GST exemption, festival cheer

The GST exemption on insurance and festive demand have driven strong growth in health, motor segments, with ICICI Lombard, SBI General, Star Health reporting sharp upticks in sales, premium collection

Govt seeks applications for Irdai WTMs for actuary, distribution posts

The Ministry of Finance has opened applications for two senior Irdai positions - Whole Time Members (Actuary and Distribution) - as the current incumbents' terms conclude in January and February 2026

GST waiver alone not enough to deepen penetration, say insurers

Insurers say the GST exemption will make policies cheaper and spur demand, but awareness, innovation, and efficiency are key to improving India's insurance penetration

BS BFSI Summit: Bima Sugam to transform insurance sector, says industry

Bima Sugam will unify India's insurance market, boost rural reach, and make policies more transparent and affordable, said experts

Credit card spends hit record ₹2.2 trillion in September on festive boom

Festive shopping, GST rate cuts, and heavy bank offers push card spending to an all-time high; HDFC, SBI Cards, and ICICI Bank lead growth

RBI denies approval for Dia Vikas Capital's 5% stake purchase in ESAF SFB

The central bank has refused approval for Dia Vikas Capital's proposed 5% stake purchase, prompting ESAF SFB's board to review its promoter scheme and next steps

VFS Capital withdraws small finance bank licence application: RBI

The NBFC-MFI, which reported a 117% rise in profit in FY25, has withdrawn its SFB licence application filed under RBI's on-tap licensing framework

A month after GST rationalisation, affordability boosts insurance sales

Insurers pass on the full tax benefit to customers, but withdrawal of input tax credit is pushing them to trim commissions, rework product mix and absorb higher costs

SBI General Insurance expects GST cut to hit profitability in near term

SBI General Insurance's Managing Director (MD) & Chief Executive Officer (CEO) Naveen Chandra Jha spoke with Aathira Varier in a virtual meeting about the company's strategies for maintaining growth

A month on, GST 2.0 positive for customers, insurers face teething issues

Sales and inquiries see a spike, even as insurers plan to use multiple levers, including renegotiating commissions with distributors, to reduce the impact of withdrawal of input tax credit (ITC)