Page 2 - Insurance News

Need to track, trace unclaimed insurance funds: Irdai member Iyer

IRDAI member Swaminathan Iyer stresses the need to track ₹1.9 trillion in unclaimed life insurance funds to build trust and boost penetration, vital for achieving 'insurance for all by 2047'

GST cut lifts life, retail health insurance growth: Irdai member Sood

Deepak Sood says zero GST on life and health insurance has sparked strong growth, with demand set to accelerate in H2FY26 as the industry pushes for deeper penetration and better distribution

Irdai monitoring gaps in health insurance claim settlements: Chairman Seth

Ajay Seth says claim payouts often fall short of expectations; stresses prompt, transparent settlement to build trust and achieve 'Insurance for All' by 2047

Life insurers' new business premium rises 12% in October on GST relief

Exemption in GST nudged individual premium growth, policy sales

Pent-up demand boosted retail health insurance segment in October

According to data released by the General Insurance Council, standalone health insurers (SAHI) reported 38.3 per cent Y-o-Y growth in premiums for October, reaching ₹3,738.34 crore

Policyholders' views needed to make rules: Irdai Chariman Ajay Seth

Irdai Chairman Ajay Seth said the regulatory process must integrate policyholders' expectations and strengthen coordination among regulators to address overlaps and systemic financial risks

Health, motor insurance policy sales jump on GST exemption, festival cheer

The GST exemption on insurance and festive demand have driven strong growth in health, motor segments, with ICICI Lombard, SBI General, Star Health reporting sharp upticks in sales, premium collection

Govt seeks applications for Irdai WTMs for actuary, distribution posts

The Ministry of Finance has opened applications for two senior Irdai positions - Whole Time Members (Actuary and Distribution) - as the current incumbents' terms conclude in January and February 2026

Kshema General Insurance to receive $20 million capital infusion from GCF

The capital received will be utilised to expand Kshema's offerings to reach a wider number of uninsured farmers and their crops, strengthening its underwriting capacity.

GST waiver alone not enough to deepen penetration, say insurers

Insurers say the GST exemption will make policies cheaper and spur demand, but awareness, innovation, and efficiency are key to improving India's insurance penetration

Insurance sector is currently at unstable equilibrium: Irdai chief

Regulators set the agenda as insurance, pensions, digital currency, cyber risk, and crypto policy took centre stage on the penultimate day of the leading summit

BFSI Summit: General insurers call for norms to navigate climate disasters

At the BFSI Insight Summit 2025, insurance leaders urged joint action on climate, cyber, and EV risks - calling for innovation, tech collaboration, and universal insurance coverage

BS BFSI Summit: Bima Sugam to transform insurance sector, says industry

Bima Sugam will unify India's insurance market, boost rural reach, and make policies more transparent and affordable, said experts

Bima Sugam can widen insurance access, say industry leaders at BFSI Summit

At the Business Standard BFSI Insight Summit 2025, industry leaders said that Bima Sugam can make insurance more accessible, affordable and transparent, helping reach more people across India

General insurers brace for climate, cyber and EV-era risks at BFSI Summit

General insurers today face a landscape of fast-changing risks. At the Business Standard BFSI Summit, industry leaders discuss how innovation and foresight are transforming the way risk is managed

Awareness, risk management key to insurance growth: Leaders at BFSI Summit

At the Business Standard BFSI Insight Summit 2025, insurance leaders said GST waiver alone will not boost coverage; better awareness, innovation and risk management are key to sector growth

A month on, GST 2.0 positive for customers, insurers face teething issues

Sales and inquiries see a spike, even as insurers plan to use multiple levers, including renegotiating commissions with distributors, to reduce the impact of withdrawal of input tax credit (ITC)

Private life insurers see early demand surge after nil GST rollout

Private life insurers report strong post-GST growth as customers respond positively to the nil GST regime; term insurance demand surges 2.5x, say ICICI Prudential, HDFC Life

GST changes, ITC removal may have weighed on insurers' profitability in Q2

Analysts see 50-150 bps VNB margin compression for life insurers and sustained combined ratios for general insurers after GST rate changes and ITC removal

AIIEA opposes govt's move to open top PSU posts to private sector

AIIEA says allowing private executives to head PSU insurers undermines nationalisation and could demoralise staff, while experts see scope for merit-based reforms