Insurance News

India needs more qualified actuaries amid RBC, IFRS transition: Irdai Chair

Irdai Chairman Ajay Seth flags acute actuarial talent shortage, says capacity building critical as India adopts risk-based capital norms and aligns with IFRS standards

Distributor commission revamp could raise policyholders' returns: Experts

Industry executives say revising life insurance distributor commissions could improve policyholder returns by lowering acquisition and operating costs, even if premiums remain unchanged

Health insurance premiums increase over 27% in January on GST boost

Strong retail demand, higher government scheme premiums and GST rationalisation fuelled robust January growth for general and standalone health insurers

Life insurance firms propose deferment of frontloaded commissions

Industry players meet Irdai chief; upfront payouts may be deferred to reduce acquisition costs

Life insurance premiums jump 21.5% in Jan; non-life insurers up 15%

Both life and non-life insurers reported strong January premium growth, supported by a favourable base effect and the GST exemption on individual life and health insurance premiums

ULIP traction rises in Q3FY26 as equity markets outperform year-ago period

Private life insurers reported stronger demand for ULIPs in Q3FY26 as equity markets gained sharply. Customers also shifted towards higher sum assured plans with protection-linked riders

Commission expense ratio of life insurers rises to 6.86% in FY25

Life insurers saw commission costs rise in FY25, driven by higher payouts by private players, even as LIC cut agent commissions and insurance penetration slipped

Private life insurers see early signs of recovery in credit life business

In a post-earnings analyst call, ICICI Prudential Life Insurance's management said the MFI-linked credit life segment has begun to revive during the quarter

Budget 2026-27: Insurance industry bats for income tax relief for premiums

Insurers also seek an increase in threshold for taxing maturity proceeds of high-value policies

India's insurance market to grow at nearly 7% CAGR over 2026-30: Swiss Re

Swiss Re projects India's insurance market to grow nearly 7% annually between 2026 and 2030, supported by regulatory reforms, higher FDI limits and rising health and motor demand

India's insurance premium growth to accelerate to 6.9% by 2030: Swiss Re

The Indian insurance sector is entering a new era of robust mid-term growth and will emerge as the strongest growing major insurance market, according to a Swiss Re analysis

Number of life insurance policies surge to 18.4 million in April-Dec FY26

Policies sold by public sector LIC slipped by 0.50 per cent YoY to 11.67 million, while policies sold by private life insurers grew 5.74 per cent annually to 6.82 mn

Q3 results preview: Life insurers likely to face VNB margin squeeze

Analysts flag 175-350-bp hit despite healthy premium growth

Insurers knock on Irdai door for clarity on director overlap ban

Insurers seek Irdai clarity on a new law barring common directorships, a move that could disrupt boards of bank-backed insurance companies

GST rejig helps life insurers' new business premium surge 40% in December

Life insurers clocked nearly 40% year-on-year growth in December new business premiums, led by LIC and aided by GST rationalisation that improved affordability

Insurers approach Irdai over common directorship rule in new Bill

Insurance companies have sought clarification from Irdai on a provision barring directors from holding board roles across insurers, banks and investment firms, citing governance and compliance concern

India's insurance penetration needle remains flat at 3.7% in 2024-25

In 2024-25, insurance density in India showed a modest rise, increasing from $95 in 2023-24 to $97 in 2024-25.

Cap or stagger distributor payouts: Life Insurance Council committee

RBI has flagged high expense structure, particularly acquisition costs of insurance companies, in its recent report

Non-life insurance premium rises 8.6% to ₹28,447 crore in Dec on GST revamp

In April-December period, premiums are up nearly 14% YoY

GI Council appoints S Prakash as CEO, Health Insurance Ecosystem

In his new role, he will work closely with insurers, hospitals, regulators and other stakeholders to support sector-wide initiatives