Insurance News

Insurers sharpen retail health focus as group business faces margin test

Retail health premiums surged 32 per cent in H1FY27, outpacing group health growth of 15.3 per cent, as insurers prioritise profitability amid pricing and claims pressures

Non-life insurance premiums rise 10.5% in October, health insurers lead

Gross direct premiums rose to ₹32,760.81 crore in October, with standalone health insurers posting 21.3 per cent growth, outpacing the broader non-life insurance industry

Life insurers' VNB margins improve as protection, savings gain traction

A shift towards protection, traditional savings and annuity products boosts VNB margins for most listed life insurers in H1 FY27, while ULIP contributions moderate at some firms

Life insurers' new business premium rises 26% to ₹42,914 cr in October

LIC's new business premium rose 31.35 per cent in October, while private insurers recorded 19.45 per cent growth; industry-wide premium mobilisation reached ₹42,914 crore.

Irdai sets up working groups to align risk-based capital regime with Ind AS

The regulator has given two working groups one month to draft RBC regulations and an approach paper, aiming to align capital calculations with Ind AS and reduce compliance costs

New motor insurance rules: Insurers warn against opting out of key covers

Insurers say customer awareness will be crucial as Irdai's four-layer motor insurance framework takes effect on December 15, allowing policyholders greater flexibility in choosing covers.

Floods, NATCAT losses weigh on general insurers' Q2 underwriting margins

General insurers reported higher flood-related claims and worsening combined ratios in Q2FY27, adding to underwriting losses even as property insurance premiums showed signs of stability

Equity capital vital, market's concerns merit attention: FM Sitharaman

Asserts there is no fragility in the economy and India needs less cynicism

Irdai cuts share transfer approval fee by 80% to ₹10 lakh for insurers

Insurance regulator Irdai has reduced the share-transfer approval fee from ₹50 lakh to ₹10 lakh and clarified compliance requirements for insurer IPOs, ESOPs and amalgamations

Cyberattacks pushing up insurance claims; premium rates stay soft: Experts

Rising ransomware attacks and data breaches have pushed up cyber insurance claims in the banking sector, but increased reinsurance capacity continues to keep premium rates soft.

NBFCs brace for hit from Irdai's insurance distribution overhaul

Shriram Finance expects a Rs 100 crore reduction in insurance commissions, while Piramal Finance estimates an 18-24 basis point impact on return on assets if Irdai's proposed rules take effect

BFSI Insight Summit: Health insurance leaders split on dedicated regulator

At the BFSI Insight Summit 2026, health insurance leaders differed on the need for a dedicated regulator but agreed on improving hospital billing transparency, claims and affordability

AI poses new risks, makes assessment more complex: General insurers

At the BFSI Insight Summit 2026, general insurance leaders warned of mounting cyber and AI risks, calling for stronger underwriting, reinsurance protection and clearer policy terms

BFSI Insight Summit 2026: Life insurers seek longer transition period

Industry leaders back customer-centric changes but flag impact of commission caps, expense limits, and uniform implementation timelines

Insurance must grow 1.5-2x faster than GDP: Irdai chief Ajay Seth

Ajay Seth says India's insurance sector must grow 1.5-2 times faster than the economy, with faster claims settlement, greater transparency and lower distribution costs key to expanding coverage

Big part of health insurance is a pull product, not push: Irdai's Ajay Seth

At the BFSI Insight Summit 2026, Irdai chief Ajay Seth called for transformative reforms to help insurance grow up to twice as fast as India's economy, with faster claims and wider coverage

Proposed Irdai norms need a longer glide path, say life insurance leaders

Business Standard BFSI Insight Summit: Life insurance industry leaders called for phased transition to proposed distribution reforms, saying insurers need time to adjust costs while expanding coverage

Don't let erroneous hospital records hold up your claim: Know your rights

A Delhi consumer court ruling highlights why insurers cannot reject claims over unreasonable document demands and why policyholders must ensure their medical records are accurate.

Irdai extends feedback window for proposed insurance distribution reforms

The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors

Decline in fire insurance premium moderates to 14% in September 2026

Commercial fire insurance premiums fell 13.6 per cent in September, compared with a 24.8 per cent decline in August, as catastrophe losses prompted insurers to ease discounting