Page 2 - General Insurance

GST cut puts insurance on par with food in fiscal policy, says IRDAI chief | BFSI Summit 2025

The government’s latest fiscal stance with the Goods and Services Tax (GST) rate cut on health insurance has elevated insurance to the same priority level as essential goods like food

Bank's group coverage: Affordable, easier to acquire; but check for limits

Group insurance from banks may be affordable and easy to onboard but customers must watch for coverage limits, exclusions, and renewal risks before signing up

General insurers launch ₹120-cr campaign to raise insurance awareness

With penetration slipping to 3.7% in FY24, general insurers roll out "Acha Kiya Insurance Liya" campaign modelled on mutual fund success to drive awareness

FSIB recommends Sanjay Joshi as Oriental Insurance Company Limited's CMD

Sanjay Joshi, currently GM at United India Insurance, recommended by FSIB to lead Oriental Insurance as CMD, following R R Singh's retirement in February

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

Public sector general insurers post combined profit of Rs 1,066 cr in Q3

Public Sector General Insurance Companies (PSGICs) have achieved financial turnaround in the December quarter, posting a combined profit of Rs 1,066 crore on the back of various reforms by the finance ministry. Public sector general insurance companies (PSGICs), that historically reported losses, witnessed a major turnaround with all of them becoming profitable again, the finance ministry said in a statement on Thursday. While Oriental Insurance Company Ltd (OICL) and National Insurance Company Ltd (NICL) started posting quarterly profits from Q4 of 2023-24 and Q2 of 2024-25, respectively, United India Insurance Company Ltd (UIICL) posted profit in Q3 of 2024-25 after a gap of seven years, it said. Notably, New India Assurance Company Ltd (NIACL) has consistently maintained its position as a market leader and has been making profits regularly, it said. New India Assurance Company recorded nearly 51 per cent drop in net profit to Rs 353 crore for the third quarter of the current ...

Employee unions of state-owned non-life insurers seek 22% salary hike

Groups seek parity with what LIC employees earn, say salary revision due since 2022

Public sector general insurance employee union oppose 100% FDI move

The proposed introduction of 100 per cent FDI in the insurance sector and other amendments to insurance laws by the Central Government were also discussed

SBI General Insurance Q3 results: Profit grows 273% to Rs 504 crore

SBI General Insurance Posts an Impressive 273% PAT Growth in 9M FY25

Insurance penetration in India dips to 3.7% despite premium growth: Irdai

Total premiums across all insurance categories reached Rs 11.19 trillion in 2023-24 while insurers paid out Rs 7.66 trillion in claim settlements, Irdai said in its annual report

We want to grow better than industry, mindful of biz quality: Naveen Jha

Health and motor insurance will continue to be our two most important segments

Breakout stock: GIC RE share price up 12%, hits record high on heavy volume

Breakout stocks: The strong surge in GIC RE share came as the stock witnessed a multi-year trendline breakout roughly above Rs 400 level

BS BFSI Summit: Insurers hope amendment Bill will drive customer engagement

The industry leaders were discussing the future of the sector at Business Standard's BFSI Summit 2024 on Friday

BS BFSI Summit: General insurance companies see signs of growth revival

Top CEOs see green shoots of growth driven by a slew of new initiatives taken by regulator Irdai and the govt

General insurance penetration rising in India, say leaders at BFSI Summit

Heads of general insurance companies discuss challenges and future potential for the insurance sector in conversation with banking editor Manojit Saha at the Business Standard BFSI Insight Summit

Tata AIG eyes 30% CAGR growth in retail health portfolio in next 3 years

The company plans to expand its agent network from 92,000 to 1,50,000 over the next two years and invest in 1,000 employees to strengthen its health distribution network

Prasun Sikdar appointed as MD, CEO of Bima Sugam India Federation for 3 yrs

Sikdar's appointment as MD and CEO was approved by the Insurance Regulatory and Development Authority of India

SBI Insurance unveils 'SBIG Health Super Top-Up' policy: Check details

A one-time welcome discount of 5% will be applied to all policies, provided the proposer purchases the SBIG Health Super Top-Up insurance within 5 days of receiving the quote from the company