Insurance News

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

Misselling in insurance sector a concern, insurers must probe cause: Irdai

Misselling involves the sale of insurance products to consumers without proper disclosure of terms, conditions or suitability

LIC launches special campaign to revive lapsed life insurance policies

Campaign running from January 1 to March 2, 2026, allows revival of lapsed individual policies with concessions on late fees, aimed at restoring insurance cover for policyholders

Insurance industry claims rise in FY25 on higher life, general payouts

Claims paid by the insurance industry increased in FY25, led by a rise in life insurance death claims and higher net incurred claims reported by general insurers across segments

Health insurance coverage rises in FY25 even as policy sales decline

During the year, premiums collected under the health insurance segment grew 9.12 per cent year-on-year to Rs 1.17 trillion

Misselling grievances against life insurers up 14% in FY25, says Irdai

Mis-selling complaints against life insurers rose over 14% in FY25 even as total grievances dipped marginally, prompting Irdai to flag concerns and seek corrective action

Misselling in insurance sector a significant concern: Irdai annual report

Irdai has flagged mis-selling as a major concern in India's insurance sector, asking insurers to conduct root-cause analysis, even as penetration remained unchanged at 3.7% in FY25

Reforms, robust demand may drive insurance growth back to double digits

After a muted FY26 so far, India's insurance industry is expected to return to double-digit growth in FY27, aided by regulatory changes, GST rationalisation and improving demand across segments

Irdai imposes ₹1 cr penalty on Reliance General Insurance for norm breaches

Regulator said the insurer made payouts to entities and an individual agent in violation of norms, and asked it to place the order before its board and submit an action report