Insurance News

Pvt life insurers rekindle agency networks amid scrutiny over bancassurance

Private life insurers are ramping up agency investments to diversify distribution as concerns over bancassurance mis-selling trigger closer scrutiny

NSE IPO windfall may aid PSU insurers, though solvency challenges remain

Listing gains likely to strengthen balance sheets of general insurers

Insurers may invest up to 5% of surplus funds in private ltd firms: Irdai

The regulator has proposed permitting insurers to invest a portion of surplus shareholders' funds in eligible private companies while tightening promoter-group exposure norms

Irdai proposes perpetual registration framework for TPAs under SBSR Act

The regulator has proposed a transition framework for existing third-party administrators, along with an annual fee mechanism under the SBSR Act regime

Irdai sets up working group to guide AI adoption in insurance sector

The working group will guide insurers on AI adoption, governance and oversight while ensuring policyholder interests and data protection remain safeguarded

India charts course for homegrown maritime insurer blueprint: Study

India faces $45-60 mn foreign outflows in P&I costs, according to a govt study

Irdai proposes framework for regulation-making, public consultations

Draft norms seek to formalise stakeholder engagement, consultation processes and periodic review of insurance regulations

India sees 30% rise in transactional risk insurance claims: Marsh report

Private equity-backed transactions accounted for 92% of claim notifications, with tax-related issues emerging as the most common trigger

Thaw in West Asia: Marine insurance rates ease, market awaits durable peace

Industry executives expect war-risk insurance rates to soften further if the US-Iran agreement leads to sustained reopening of the Strait of Hormuz and lower regional tensions

War effect: Gulf-based NRIs double down on Indian term life plans

Geopolitical tensions in West Asia are driving Gulf-based NRIs towards Indian term insurance plans, attracted by lower premiums and GST exemptions

ICICI Lombard says E-20 fuel use won't affect motor insurance claims

The insurer clarified that the use of E20 fuel does not affect the validity of motor insurance policies and will not be treated as negligence while assessing claims

Life insurance premium growth slows as LIC's momentum eases in May

Industry premium growth moderated to 5.1 per cent in May as group single premiums normalised and LIC's growth slowed, though private insurers continued to gain market share

Insurers seek higher ceding commissions amid competition in crop insurance

Improved loss experience and rising competition among reinsurers are strengthening insurers' negotiating position during ongoing crop insurance renewals

Weak group business drags life insurers' new biz premium to 10-month low

Industry NBP rose 5.15 per cent year-on-year in May, with weak growth in group insurance premiums weighing on both LIC and private-sector life insurers

Non-life insurance premium up 8.7% in May, led by health insurance growth

Gross direct premium underwritten by non-life insurers rose to Rs 24,194.56 crore in May, supported by steady growth in general insurance and strong gains in health insurance

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