Insurance

Policybazaar Insurance Brokers appoints Sajja Praveen Chowdary as CEO

Chowdary joined PB Fintech Group in 2011 and has led multiple verticals over a period of time, and currently heads "Policybazaar for Business"

Power ministry pushes insurance surety bonds as bank guarantee alternative

Centre asks states to accept insurance surety bonds in power procurement to ease liquidity constraints, reduce credit exposure, and boost participation across energy projects

What are the best term insurance plans for working women?

Term insurance becomes crucial after 30 as premiums rise with age; locking in early ensures stable costs and financial protection for dependents, helping secure long-term goals and liabilities

Excess capacity, low losses drive steep fall in reinsurance rates

Reinsurance rates have softened significantly, with property premiums dropping up to 90 per cent amid excess capacity, low losses, and intense competition

IPL insurance premiums likely to drop 15-20% this year on lower claims

IPL insurance premiums may drop 15-20% due to lower claims, while higher valuations, revenues and sponsorships push up the overall sum insured this season

New insurance rules from April 1: What IRDAI’s big accounting shift means for your policy

India’s insurance regulator is introducing a major accounting reform from April 1. Insurers will adopt the Ind AS 117 framework, a global standard for insurance reporting.

Govt to expedite maritime insurer plan amid rising West Asia conflict

ShipMin and DFS are in talks to set up a domestic P&I club as West Asia tensions push up marine insurance costs for shipping lines and exporters

PSBs, insurers seek higher sum assured for social security schemes

PSBs and insurers have urged the finance ministry to raise the sum assured under PMJJBY and PMSBY, citing inflation and household vulnerabilities, as India targets "Insurance for All by 2047"

India needs more qualified actuaries amid RBC, IFRS transition: Irdai Chair

Irdai Chairman Ajay Seth flags acute actuarial talent shortage, says capacity building critical as India adopts risk-based capital norms and aligns with IFRS standards

IFSCA to seek Centre's nod to open insurance-linked securities to investors

IFSCA will approach the Centre for approval to set up an SPV-based framework enabling investments in insurance-linked securities such as catastrophe bonds, aiming to broaden risk-sharing mechanisms

Risk-based deposit rules may dent bank profits by up to ₹12k cr: ICRA

ICRA says the new risk-based deposit insurance premium framework, effective April 2026, could reduce bank profitability by up to ₹12,000 crore a year, though stronger banks may see gains

Cyber insurance explained: What it covers, what it doesn’t, and why it’s needed | Cyber fraud

As digital fraud surges across India, cyber insurance is being pitched as a safety net for individuals and households. But what does it actually protect you againstand where does it fall short?

Budget must give tax relief in household medical costs: Insurance industry

'Biggest health care burden is not hospitalisation but diagnostics and medicines,' they say

Budget 2026: What insurance and healthcare are batting for this year

As India heads into Union Budget 2026, two things sit at the heart of everyday anxiety: medical bills and insurance cover. This deep-dive breaks down what the government may change

63SATS bets big on mobile cybersecurity with insurance net in India

With traditional security models unable to control AI-powered cyberattacks, 63SATS Cybertech, part of 63 moons technologies, has built a software platform for smartphone users along with an embedded comprehensive insurance to achieve cybersecurity and a financial safety net across India. The cybersecurity services firm merged software security and cyber insurance in to one active digital defense super app, CYBX, for everyday mobile users. Apart from controlling cyber threats, risks, and frauds, 63SATS Cybertech has also tied up with general insurer ICICI Lombard to provide a financial safety net to its cybersecurity app users. Elaborating on the depth of cybersecurity solutions, 63SATS Cybertech, Joint MD and Joint CEO Srinivas L said Indian smartphone users can now access exchange-grade security coupled with a financial safety net of up to Rs 10 lakh. "With protection offered for more than 100 threats, including covering digital safety, financial frauds, privacy protection, identi

Budget 2026-27: Insurance industry bats for income tax relief for premiums

Insurers also seek an increase in threshold for taxing maturity proceeds of high-value policies

ICICI Lombard looks to outperform industry's premium growth in Q4

ICICI Lombard expects to outperform industry premium growth by 100-200 bps, driven by motor, health and commercial lines, says CFO

India's insurance market to grow at nearly 7% CAGR over 2026-30: Swiss Re

Swiss Re projects India's insurance market to grow nearly 7% annually between 2026 and 2030, supported by regulatory reforms, higher FDI limits and rising health and motor demand

India's insurance premium growth to accelerate to 6.9% by 2030: Swiss Re

India's insurance premium growth will accelerate to 6.9 per cent over 20262030 outpacing China, the US and Western European markets, on strong economic fundamentals, rising demand and regulatory changes, global reinsurer Swiss Re said on Monday. The Indian insurance sector is entering a new era of robust mid-term growth and will emerge as the strongest growing major insurance market, according to a Swiss Re analysis. It said over the next five years, India will remain the world's fastest-growing major economy with an estimated average real GDP growth of 6.5 per cent underpinned by robust private consumption. According to the report, fiscal stimulus measures, such as simplification of Goods and Services Tax (GST) rates and personal income tax concessions will help spur demand from lower and middle-income households. Swiss Re forecasts India's insurance market to grow at an annual rate of 6.9 per cent over 2026 to 2030 in real terms, higher than major emerging and advanced insurance

LIC demerger, PSU insurer divestment drive 'Insurance for All by 2047'

An IIM Kozhikode panel has proposed splitting LIC and divesting weak PSU insurers to boost competition, capital and insurance penetration under the 'Insurance for All by 2047' vision