Page 3 - Aathira Varier

InsuranceDekho, RenewBuy merge to form largest AI-led insurance platform

Combined entity has a premium book exceeding Rs 6,600 crore, over 6 lakh digital partners and a presence across 98.57 per cent of India's pin codes

Irdai plans public insurance registry to bridge data gaps, widen coverage

Proposed registry will provide an interoperable access layer to verified insurance data, helping streamline policy servicing, claims and regulatory oversight

Private banks' deposit growth outpaces PSBs' by nearly 350 bps at June-end

Private banks' deposits grew 13.8% in June, outpacing PSBs at 10.3%, while bank credit surged 16.5%, widening the gap with deposit growth

Private bank CEO exits put board-management relationship under lens

Differences between boards and management over priorities and strategy are prompting some private bank CEOs to opt out, raising concerns over leadership continuity

July per-credit card spending slips 2.4% Y-o-Y, issuances outpace transaction

Average spending per card continues to face downward pressure as the pace of card issuance outpaces aggregate transaction volume growth

General insurers may revise fire premiums as discounts weigh on profits

Fire insurance premiums fell 28.5 per cent YoY in April-July as steep discounts and strong reinsurance capacity intensified competition and raised profitability concerns

IndiaFirst Life is not likely to see drop in headcount from AI adoption

The company said IndiaFirst Life is likely to revisit its IPO plans after regulatory approval for BNP Paribas Cardif's stake acquisition and the new shareholder structure is in place

Jio Financial bets on AI, global partnerships to drive next phase of growth

Jio Credit's AUM has crossed ₹30,000 crore and JioBlackRock's ₹21,000 crore as JFS expands lending, investments and insurance through technology and global alliances

Outward remittances under LRS surge 20% to $2.5 billion in June: RBI data

International travel and overseas investments drove the increase in June, with equity and debt investment remittances more than doubling year-on-year to $456.7 million

₹2 trillion credit card spending a month becomes the new normal: RBI data

Average monthly credit card spends rose to Rs 2 trillion in January-July 2026 from Rs 1.93 trillion in 2025, while cards outstanding increased to 122.86 million

Irdai takes firm stance on insurers breaching expense management limits

Regulator's action on EOM breaches signals tighter scrutiny of operating and distribution costs, though experts expect limited short-term business impact

Non-life insurance premium growth slowed to 5.7% in July, shows data

Gross direct premium underwritten by non-life insurers rose to ₹31,397.6 crore in July, as growth at multi-line general insurers moderated from the previous month

Bajaj Life Insurance's Tarun Chugh top paid life insurer CEO in FY26

Bajaj Life Insurance CEO Tarun Chugh topped India's life insurance sector with ₹33.66 crore in FY26 as Irdai tightens scrutiny of executive pay and links incentives to customer outcomes

SC's motor TP direction may raise insurer commissions, consumer costs

The Supreme Court's proposed longer mandatory cover could raise upfront costs and insurer commission pressure, while doing little to address uninsured commercial vehicles

Insurance firm CEOs see pay hikes as Irdai tightens compensation rules

Bajaj Life CEO Tarun Chugh earned Rs 33.66 crore in FY26, more than three times the remuneration of the next-highest-paid chief executive, as regulatory scrutiny of insurer executive pay increases

Life insurers' new business premium rises 20.7% to ₹47,005 crore in July

Life insurers' new business premium rose 20.7% in July, led by strong growth in LIC's group business and steady expansion by private insurers

LIC's Q1 net profit rises 23% to ₹13,492 crore on higher premium income

State-owned LIC reported a 23 per cent rise in Q1FY27 net profit as premium and investment income grew, while value of new business surged 61.3 per cent

Insurance sector poised for growth, but profitability concerns persist: S&P

S&P Global Ratings says reforms and low insurance penetration support long-term growth, but underwriting pressures and weak profitability remain key risks for insurers

Bajaj General Insurance ties up with Swiss Re for commercial partnership

Partnership will use Swiss Re's international platform to offer structured risk solutions to Indian companies

22 years later, RBI set to resume UCB licensing through on-tap framework

The Reserve Bank of India will soon issue draft guidelines for on-tap licensing of urban co-operative banks, setting stringent eligibility norms for credit co-operative societies seeking conversion