Insurance

Checking digital insurance fraud key to financial inclusion goals

As digital platforms expand coverage across India, cybercriminals are targeting first-time buyers with online scams

LIC targets stronger market leadership as it approaches platinum jubilee

LIC CEO and MD R Doraiswamy has said that despite rising competition in the life insurance sector, the Corporation will stay focused on strengthening its leadership position while contributing to the national development as it heads toward its platinum jubilee. Insurance behemoth LIC alone commands close to 60 per cent market share in the life insurance segment and manages assets of over Rs 57 lakh crore. It has real estate properties valued at around Rs 60,000 crore. The story of Life Insurance Corporation of India (LIC), which completed its 70th year of existence, is inseparable from the story of India. "As the economy grows, LIC grows. LIC growth helps the economy grow. So, it has been a synergetic kind of relationship that LIC has been having," he told PTI in an interaction. Reflecting on the organisation's remarkable journey since its inception in 1956, he said that LIC's growth has always been closely intertwined with India's development. Built on the vision, dedication and

Coverage to exclusion: 8 terms to check in a policy before buying insurance

Some other things that matter include waiting period, deductibles and claim conditions

Don't even know where LIC's office is, says Rajesh Exports chief

With Rajesh Exports facing regulatory pressure and concerns about LIC's exposure to the beleaguered gold jewellery firm, Chairman Rajesh Mehta has distanced himself from the insurer's investment decisions, arguing that ordinary retail shareholders stand to gain regardless of how the situation plays out. "LIC has not purchased the shares yesterday or last year. LIC's purchases are over a period of time, approximately 20 years. These shares have been taken by LIC from the open market, from the stock market," Mehta told PTI in an interview. Currently, LIC holds a 10.80 per cent stake in Rajesh Exports. Mehta was categorical that neither he nor other promoters had any role in LIC's accumulation of the stock. "No promoter has ever sold his shares to LIC. The company has never made any placement to LIC. By the buying of shares by LIC, the company or the promoters have never benefited in any manner," he said. Mehta said the company had no relationship with or knowledge of LIC's investmen

TCS signs deal to modernise Canada Life's IT infra services across Europe

The agreement will see TCS modernise and manage Canada Life's IT infrastructure across its European businesses, leveraging AI and digital capabilities to improve resilience and automation

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

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

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

High commissions a key concern, need attention: Irdai chairman Ajay Seth

Insurance regulator says rising commissions and weak profitability are undermining policyholder value and sector resilience

Tax benefits meant for savers must not become subsidies for sellers

Tax breaks meant for savers are increasingly enriching insurers and distributors, while mis-selling leaves ordinary investors exposed to heavy losses

Non-life insurance premiums rise 8% in April on segment-wide growth

Gross direct premium underwritten by non-life insurers rose 8.28 per cent in April, supported by strong growth in health and general insurance segments

Private insurers step up commitment to India's new maritime insurance pool

In less than a fortnight of its announcement, private insurers have already committed Rs 1,100 crore to the pool; plans are also afoot to set up an Indian Protection & Indemnity Club

Govt notifies 100% FDI in insurance sector under automatic route rules

The move to allow 100 per cent FDI in the insurance sector is expected to boost foreign interest in the sector

GST tailwind boosts life insurance premiums, fails to lift policy volumes

Removal of GST on individual policies lifted life insurers' premium growth in FY26, but policy volumes remained subdued, highlighting rising ticket sizes rather than wider customer penetration

'Increasing policy sales in FY27 a focus area for SBI Life Insurance'

SBI Life Insurance to push policy sales in FY27, expects steady growth and stable margins despite regulatory changes and product mix shift

Life insurers well-placed on valuation, margin expansion triggers

Life insurers recorded robust premium growth in FY26, but FY27 outlook remains mixed amid geopolitical risks, GST impact and evolving product mix dynamics

India mirrors China's growth potential of 25 years ago: Hans De Cuyper

Ageas CEO flags high valuations in India's insurance sector but sees China-like growth potential, aims to push JV into top 10 amid rising foreign interest

War-risk premiums surge: Can ₹12,980 cr maritime pool steady trade costs?

War-risk premiums have surged sharply, raising shipping costs. India's ₹12,980 crore Bharat Maritime Insurance Pool aims to stabilise coverage, but whether it can make trade cheaper remains uncertain

Postal Dept clocks 16% revenue growth in FY26; eyes ₹17,000 crore FY27

Strong growth in parcels, savings bank and citizen services drives postal revenues, while the department aims to narrow deficit and expand rural network