Page 2 - Insurance News

Irdai commission caps likely to hit jobs, weaken reach, cautions IBAI

Brokers' body says proposed commission caps and lower expense limits could lead to job losses, weaken independent distribution and hurt insurance access in smaller towns.

Twin regulatory moves seek to reshape insurance costs, distribution

PFRDA's NPS Swasthya combines healthcare withdrawals with a super top-up cover, while Irdai proposes tighter commissions and expense limits to curb mis-selling and lower distribution costs

LIC left with two serving MDs as Dinesh Pant joins Irdai as actuary member

Dinesh Pant has been appointed whole-time director, actuary, at Irdai, reducing the number of serving managing directors at LIC to two

Banks may rejig insurance sales as Irdai proposes sharp commission cuts

Banks could favour long-term products that offer better commissions, while seeking to offset lower payouts elsewhere through higher volumes

Irdai's proposed commission cuts threaten PB Fintech's online economics

Analysts say PB Fintech's core online insurance revenue could take a nearly 30 per cent hit, though cost optimisation and higher volumes could cushion the impact

Irdai commission caps may weigh on insurance fee income of banks, NBFCs

Lenders with multiple insurer tie-ups and incentive-led payouts could face a sharper impact, while L&T Finance is seen as the most exposed among NBFCs

PB Fintech may explore new business options after Irdai commission cuts

PB Fintech may explore manufacturing insurance products by seeking a licence as it assesses the impact of Irdai's proposed commission cuts on its distribution business

Irdai's draft distribution norms could put insurance volumes at risk

Proposed commission caps, tighter expense limits and restrictions on loan bundling could disrupt distribution channels and lead to volume declines in the short term

Irdai's proposed distribution reforms may disrupt insurance growth

Proposed commission cuts could trigger broker consolidation and squeeze bancassurance, while tighter expense limits may put additional pressure on smaller insurers

Insurance distributors bleed as Irdai proposes sharp commission cuts

PB Fintech plunged 36 per cent and Turtlemint fell 20 per cent as analysts warned proposed commission cuts in health, term and motor insurance could hit earnings

Govt sets riders for funds to three stressed PSU general insurers

Calls for underwriting overhaul, performance-linked talent management

Irdai proposes tighter expense limits, new commission caps for insurers

The regulator proposes phased cuts to insurers' expense limits, new commission caps and a ban on compulsory bundling of insurance with loans to lower costs and curb mis-selling

GST cut lifts insurance demand, expands customer base, boosts coverage

Insurers and distributors have seen higher policy purchases and coverage levels since the GST exemption, though the initial surge in demand has moderated from a higher base

Property insurance rates up as insurers cut discounts after Gujarat floods

Premium rates are hardening by nearly 25-30 per cent, mainly through a reduction in discounts, according to Bajaj General Insurance

Long-term insurance policies need tax incentives: ICICI Pru's Anup Bagchi

ICICI Prudential Life CEO Anup Bagchi says tax incentives for policies of 10 years or more could help insurers build stable liability pools for infrastructure investment.

LIC, Norway sovereign fund among key investors in NSE's ₹6.7Kcr anchor book

Exchange allocated 37.79 million shares at Rs 1,785 each to 189 investors, with offshore institutions taking 43 per cent and domestic mutual funds nearly 37 per cent

Non-life insurance premium rises 10% to ₹27,454.5 crore in August

Standalone health insurers led the rise, recording 30.4 per cent year-on-year growth in premiums to Rs 4,377.14 crore, according to General Insurance Council data

Non-life insurers' underwriting losses surge 50% to Rs 45,279 cr in FY26

Public-sector general insurers saw underwriting losses rise 58.3 per cent, while private general insurers recorded an 18.9 per cent increase and standalone health insurers a 63 per cent jump

Life insurers' new business premium rises 33.07% to ₹41,198 cr in August

LIC's new business premium rose 45.26 per cent in August, while private insurers recorded nearly 20 per cent growth, lifting the industry's overall premium mobilisation

Ganpati pandals step up insurance cover as festival risks mount

Oriental Insurance has covered around 100 Ganpati pandals this year, up from 20-30 last year, as organisers seek protection against calamities and accidents