General Insurance

Govt extends new ESIC amnesty scheme by three months till December 31

The Employees' State Insurance Corporation (ESIC) has extended the New Amnesty Scheme, 2025, for three months till December 31, 2026, giving employers and insured persons more time to resolve pending cases, a labour ministry statement said. Post review of representations from various stakeholders, the Employees' State Insurance Corporation has extended the 'New Amnesty Scheme, 2025' which ran from October 1, 2025, to September 30, 2026, for a further period of three months -- from October 1, 2026 to December 31, 2026 -- on existing terms and conditions, the statement said. The 'New Amnesty Scheme 2025' is a one-time dispute resolution initiative aimed at reducing the backlog of court cases and promoting compliance under the erstwhile ESI Act. It provides a structured mechanism for employers to resolve legal disputes with ESIC for an out-of-court settlement. The scheme allows settlement of ad-hoc assessments by paying actual contributions and interest, without damages being levied,

Decline in fire insurance premium moderates to 14% in September 2026

Commercial fire insurance premiums fell 13.6 per cent in September, compared with a 24.8 per cent decline in August, as catastrophe losses prompted insurers to ease discounting

IndusInd General Insurance names Sharad Mathur as Managing Director & CEO

IndusInd General Insurance Company Ltd (formerly Reliance General Insurance), part of IndusInd International Holdings Ltd (IIHL) Group, on Tuesday announced the appointment of Sharad Mathur as its Managing Director & CEO, following statutory approvals. Mathur brings three decades of experience in the insurance and financial services industry, with a strong track record in organisational transformation, distribution expansion, technology-led innovation, growth and governance, the company said in a statement. Prior to joining IndusInd General Insurance, he served as MD & CEO of Universal Sompo General Insurance for over six years, leading its transformation and strengthening its distribution, risk management, and tech-led customer servicing capabilities. Earlier, he held leadership positions at SBI General Insurance and ICICI Lombard, contributing to their growth from their formative stages. At IndusInd General Insurance, Mathur will lead the company's next phase of ...

ICICI Lombard Q2FY27 net profit up 15.5% at ₹946 crore on income growth

ICICI Lombard's Q2FY27 net profit rose to Rs 946.4 crore on premium and investment income growth, while underwriting losses widened and the combined ratio reached 107 per cent.

Life insurers' profitability in Q2FY27 to improve on protection growth

Retail protection growth and a favourable product mix are expected to support life insurers' Q2FY27 profitability, while higher claims ratios could weigh on general insurers.

Risk sharing

Insurance copayment will not address deeper problems

Bajaj General Insurance ties up with Swiss Re for commercial partnership

Partnership will use Swiss Re's international platform to offer structured risk solutions to Indian companies

General insurance shares up after Supreme Court's Motor TP directions

Shares of general insurers advanced after the Supreme Court directed the insurance regulator to consider longer Motor Third Party insurance tenures and measures to improve insurance coverage.

General Insurance Council defends fever admission advisory framework

Insurance body says the advisory follows ICMR and health ministry guidelines, aims to curb unnecessary hospital admissions and does not restrict doctors' clinical autonomy

ICICI Lombard invests up to 1.5% of premium in tech: MD&CEO Sanjeev Mantri

General insurer says it spends up to 1.5% of annual premium income on technology and AI, while launching 25 new products and digital solutions to mark its silver jubilee

Irdai grants licence to ProTec General Insurance, fourth approval in 2026

Regulator also approves reforms covering investment norms, intermediary registration, capital raising, governance and policyholder protection measures

Downgrades on motor business uncertainty to weigh on ICICI Lombard

ICICI Lombard faces pressure from rising motor claims, Supreme Court-related provisions and weak underwriting, prompting expectations of earnings downgrades across the sector

Weak earnings drag ICICI Lombard shares by 10% to second steepest fall

The general insurer's shares tumbled after a 46 per cent drop in June-quarter profit, as higher claims, reserve provisioning and competitive pressures weighed on profitability

ICICI Lombard Q1 profit falls 46% to Rs 403 crore on higher claims

ICICI Lombard General Insurance reported a 46 per cent decline in first-quarter profit as higher claims, reserve provisions and large fire losses weighed on profitability

Bima Sugam's first products set for Sept-end launch: Irdai Chairman

Irdai Chairman Ajay Seth says Bima Sugam will roll out initial motor, health and term insurance products by September-end as insurers complete technology integration with the platform

Generali Central General Insurance targets ₹10K cr premium in five years

The insurer plans to focus on profitable growth by expanding retail health, fire and SME insurance while reducing exposure to intensely competitive group health business

Govt sets performance targets for state-run general insurers for FY27

Government sets ambitious FY27 KPIs for PSU insurers, targeting lower claims ratios, faster settlements and stronger digital adoption

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

Jio Financial formalises general insurance foray with Allianz group

The joint venture, awaiting regulatory approvals, will combine Jio's digital reach with Allianz's global expertise to expand insurance access in India

Jio Fin Services expects to start life, general insurance biz in 2026

Jio Financial Services (JFS) is hoping to start general and life insurance businesses this year, a top company official has said. The financial services company does not have any immediate plan to get into the unsecured and consumer durable lending businesses. "We hope to start insurance manufacturing in 2026, subject to regulatory approvals," its chief executive and managing director Hitesh Sethia told PTI recently. The company, which recently entered the reinsurance business, along with its equal joint venture associate Allianz, will partner with the French company for general and life insurance businesses as well. Sethia said in parallel, the company is working towards building the necessary teams for the insurance foray. JFS, which is promoted by entities linked to the richest Indian Mukesh Ambani, has entered lending businesses, like assisting home buyers, asset management, wealth management and reinsurance, either by itself or through partnerships. Explaining its strategy i