Page 10 - Insurance News

Insurance industry feels the blues as growth slows amid structural issues

Growth has slowed significantly in FY25 as both life and non-life segment report single digit growth, partly because of changes in reporting norms, as well as lower credit by NBFCs and MFIs

High premiums, low funds key barriers to buying health, term insurance

About 20 per cent of the respondents said they do not fully understand health insurance, and 18 per cent saw buying it as a cumbersome process

Result preview: Insurers stare at weak Q4 on growth and margin pressure

Life segment players may report flat profit; claims, new norms to weigh on general insurers

Irdai warns Heritage TPA against unilaterally closing health claims

The order is in response to the remote inspection conducted by the authority from November 8, 2021 to November 11, 2021

Non-life insurers' premium touches Rs 3 trillion mark in FY25 amid slowdown

The 6.2 per cent increase in premiums collected come in the backdrop of slowing economic growth in the closing quarters of FY25 and a change in accounting norms

Non-life insurers' premium likely to improve in FY26, say experts

In FY25, premium of non-life insurers rose to ₹3.08 trillion, marking a 6.2 per cent year-on-year (Y-o-Y) increase

Non-life insurers' premium grow 6.2% to Rs 3.08 trillion in FY25

The general insurers' premium grew by 5.20 per cent Y-o-Y to Rs 2.58 trillion at the end of FY25

General insurance industry likely to grow 13% in FY26: India Ratings

Growth has varied across standalone health insurers (SAHI), which Ind-Ra expects to grow 21 per cent Y-o-Y in FY26

Insurers struggle to meet motor third party obligations set by Irdai

Inusrers with 5 per cent to 10 per cent share in Motor TP segment must expand their insurance by 7.5 per cent over the last year

100% FDI in insurance a step forward, but safeguards unclear: USTR report

These safeguards include requirements such as a majority of board members being resident Indians and higher solvency requirements for foreign-invested insurers domiciled outside India

Reinsurance renewal rates likely to see a drop of up to 10% in FY26

Last year, the reinsurance rates saw a marginal increase of around 5 per cent after adjusting for risk

Insurance sector sees record Rs 38,000 crore worth of deals in 2 weeks

The past fortnight saw a slew of big-ticket deals in the insurance sector, with the biggest of them being a Rs 24,180 crore acquisition by Bajaj Allianz

Insurance sector sees record deals worth over Rs 38,000 crore in two weeks

The biggest among them is the Bajaj Group's acquisition of Allianz's stake in their two insurance joint ventures for Rs 24,180 crore

Cyber incidents: IRDAI asks insurers to empanel forensic experts in advance

Insurance Regulagtory and Development Authority of India (Irdai) said that in today's digital age, any cyber incident and crisis poses significant threats to organisations

Star Health Insurance's shares hit 52-week low amid reports of Irdai probe

Company calls it a routine exercise to ensure compliance

Tepid vehicle sales, competition weigh on motor vehicle insurance premiums

The overall motor insurance premium stood at Rs 89,405.56 crore in the April-February period of FY25

IPL sum insured drops significantly due to steep rise in premiums

In 2024, the total insurance cover taken against the IPL was Rs 10,000 crore. Broadcasters, organisers, franchises, and sponsors had taken insurance for Rs 6,000 crore

Terrorism insurance premiums likely to fall up to 15% from April 1

The maximum limit of indemnity for insurance of sabotage and terrorism risk is decided by the pool underwriting committee, where the initial capacity was Rs 200 crore per location

Regulators must adapt as technology changes the insurance landscape

Companies are using insurance technology, or insurtech, to prevent fraud, process claims promptly, and offer personalised services to customers

Edelweiss Life Insurance likely to break even by FY27: MD & CEO Sumit Rai

The private sector insurer has been incurring losses and remains reliant on capital infusion from its Indian parent, which in FY25 infused Rs 200 crore into the company