Insurance News

GIFT City's insurance premiums quadruple to $648.7 million in FY26

Gross premiums underwritten by IFSC Insurance Offices in GIFT City rose fourfold in FY26, driven by rapid expansion in reinsurance business and a doubling of insurance entities

Datanomics: Insurance plaints double in six years driven by health

Health insurance is driving a surge in insurance complaints, with grievance filings rising sharply despite the segment accounting for a relatively small share of premiums

Large-ticket term policies gain traction; share above ₹2 cr rises to 34%

The share of policies below ₹2 crore fell to 66 per cent from 76 per cent over the same period

Bond forwards replace FRAs for insurers; SDLs become preferred choice

Insurers are increasingly shifting to bond forwards linked to state development loans, attracted by higher yields and the RBI's new framework for managing interest-rate risk

GST rationalisation drives surge in Rs 2 crore-plus term insurance covers

Share of policies above Rs 2 crore jumps to 34 per cent in FY26 from 24 per cent in FY25, as cheaper premiums prompt Indians to reassess coverage needs

Insurers wary as Irdai tightens executive compensation framework

Irdai's revised compensation norms linking executive pay to customer outcomes and compliance metrics have sparked concerns over growing regulatory intervention

How extreme heat is exposing gaps in India's crop insurance system

As extreme heat damages yields, quality and farm incomes without triggering formal crop failure, experts say India's insurance system is struggling to adapt to climate reality

Aviva Life targets 3x jump in annualised new business premium in 5 years

The insurer currently has around 350,000 customers and plans to increase annual customer additions from nearly 25,000 at present to 50,000 initially, before gradually scaling up to 75,000

Growth in protection products drives new biz value for life insurers

Higher sales of protection and non-participating products helped life insurers report robust VNB growth in FY26 despite higher operating costs linked to GST changes

India's extreme heat spell giving parametric insurance a longer season

Extreme heat and erratic weather fuel sharp rise in demand for parametric insurance covers

Intermediary-led model keeps insurance costs elevated: Praxis Global

Praxis Global Alliance says high intermediary commissions keep general insurance expense ratios elevated, with renewal business continuing to remain acquisition-cost heavy

Irdai withholds variable pay of some insurers' CEOs over expense targets

Regulator's action follows unmet 'expense of management' targets

Life insurance companies seek broader guardrails for CEO salaries

The regulator cited that the CEO salaries account for major chunk of wage expenses of the company

Prudential to acquire 75% stake in Bharti Life Insurance for ₹3,500 crore

Another ₹700 crore payable if certain conditions met; Prudential to reduce stake in ICICI Pru Life Insurance

ULIPs retain dominance in private insurers' product mix despite policy push

This is despite sharper push towards protection products after GST relief

Prudential to acquire 75% stake in Bharti Life Insurance for ₹3,500 crore

Bharti Enterprises said Prudential's investment in Bharti Life will support expansion of products and distribution across India

Irdai to frame Sabka Bima, Sabki Raksha Act norms within six months

Irdai said fresh regulations and amendments to existing insurance norms will be completed within six months of implementing the amended insurance law framework

ULIPs dominate private insurers' FY26 product mix despite protection push

Private life insurers continued to depend heavily on ULIPs in FY26, although protection products gained momentum after GST exemption and rising customer demand for life cover

Insurance cos must sell protection products first: SBI MD Ashwini Tewari

SBI Managing Director Ashwini Tewari says insurance firms should prioritise protection products over ULIPs and calls for stronger safeguards against mis-selling

How NPS Swasthya model may reshape elderly healthcare financing in India

PFRDA's proposed NPS Swasthya Pension Scheme seeks to combine retirement savings with healthcare financing, potentially reshaping elderly-care funding beyond traditional insurance models