Page 3 - Insurance News

India sees 30% rise in transactional risk insurance claims: Marsh report

Private equity-backed transactions accounted for 92% of claim notifications, with tax-related issues emerging as the most common trigger

Thaw in West Asia: Marine insurance rates ease, market awaits durable peace

Industry executives expect war-risk insurance rates to soften further if the US-Iran agreement leads to sustained reopening of the Strait of Hormuz and lower regional tensions

War effect: Gulf-based NRIs double down on Indian term life plans

Geopolitical tensions in West Asia are driving Gulf-based NRIs towards Indian term insurance plans, attracted by lower premiums and GST exemptions

ICICI Lombard says E-20 fuel use won't affect motor insurance claims

The insurer clarified that the use of E20 fuel does not affect the validity of motor insurance policies and will not be treated as negligence while assessing claims

Life insurance premium growth slows as LIC's momentum eases in May

Industry premium growth moderated to 5.1 per cent in May as group single premiums normalised and LIC's growth slowed, though private insurers continued to gain market share

Insurers seek higher ceding commissions amid competition in crop insurance

Improved loss experience and rising competition among reinsurers are strengthening insurers' negotiating position during ongoing crop insurance renewals

Weak group business drags life insurers' new biz premium to 10-month low

Industry NBP rose 5.15 per cent year-on-year in May, with weak growth in group insurance premiums weighing on both LIC and private-sector life insurers

Non-life insurance premium up 8.7% in May, led by health insurance growth

Gross direct premium underwritten by non-life insurers rose to Rs 24,194.56 crore in May, supported by steady growth in general insurance and strong gains in health insurance

GIFT City's insurance premiums quadruple to $648.7 million in FY26

Gross premiums underwritten by IFSC Insurance Offices in GIFT City rose fourfold in FY26, driven by rapid expansion in reinsurance business and a doubling of insurance entities

Datanomics: Insurance plaints double in six years driven by health

Health insurance is driving a surge in insurance complaints, with grievance filings rising sharply despite the segment accounting for a relatively small share of premiums

Large-ticket term policies gain traction; share above ₹2 cr rises to 34%

The share of policies below ₹2 crore fell to 66 per cent from 76 per cent over the same period

Bond forwards replace FRAs for insurers; SDLs become preferred choice

Insurers are increasingly shifting to bond forwards linked to state development loans, attracted by higher yields and the RBI's new framework for managing interest-rate risk

GST rationalisation drives surge in Rs 2 crore-plus term insurance covers

Share of policies above Rs 2 crore jumps to 34 per cent in FY26 from 24 per cent in FY25, as cheaper premiums prompt Indians to reassess coverage needs

Insurers wary as Irdai tightens executive compensation framework

Irdai's revised compensation norms linking executive pay to customer outcomes and compliance metrics have sparked concerns over growing regulatory intervention

How extreme heat is exposing gaps in India's crop insurance system

As extreme heat damages yields, quality and farm incomes without triggering formal crop failure, experts say India's insurance system is struggling to adapt to climate reality

Aviva Life targets 3x jump in annualised new business premium in 5 years

The insurer currently has around 350,000 customers and plans to increase annual customer additions from nearly 25,000 at present to 50,000 initially, before gradually scaling up to 75,000

Growth in protection products drives new biz value for life insurers

Higher sales of protection and non-participating products helped life insurers report robust VNB growth in FY26 despite higher operating costs linked to GST changes

India's extreme heat spell giving parametric insurance a longer season

Extreme heat and erratic weather fuel sharp rise in demand for parametric insurance covers

Intermediary-led model keeps insurance costs elevated: Praxis Global

Praxis Global Alliance says high intermediary commissions keep general insurance expense ratios elevated, with renewal business continuing to remain acquisition-cost heavy

Irdai withholds variable pay of some insurers' CEOs over expense targets

Regulator's action follows unmet 'expense of management' targets