Insurance

Irdai cuts share transfer approval fee by 80% to ₹10 lakh for insurers

Insurance regulator Irdai has reduced the share-transfer approval fee from ₹50 lakh to ₹10 lakh and clarified compliance requirements for insurer IPOs, ESOPs and amalgamations

Services growth widens in August; 13 of 19 sectors post double-digit gains

NSO data shows 17 services sub-sectors expanded in August, led by retail trade, while repair services rebounded sharply and air transport contracted for a fifth straight month

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,

How Indian banks are planning to offset Irdai's insurance commission cuts

Irdai has proposed product- and channel-specific caps on insurance commissions, lower expense limits for insurers; banks are exploring mutual funds and forex to offset potential income losses

Insurance must grow 1.5-2x faster than GDP: Irdai chief Ajay Seth

Ajay Seth says India's insurance sector must grow 1.5-2 times faster than the economy, with faster claims settlement, greater transparency and lower distribution costs key to expanding coverage

Big part of health insurance is a pull product, not push: Irdai's Ajay Seth

At the BFSI Insight Summit 2026, Irdai chief Ajay Seth called for transformative reforms to help insurance grow up to twice as fast as India's economy, with faster claims and wider coverage

Dynamic pricing works for airlines, not insurance, says Irdai Chief

Insurance Regulatory and Development Authority of India (Irdai) Chairman Ajay Seth on Tuesday said dynamic pricing, a practice used by airlines, should not be adopted by insurance digital platforms,

Clear loans, secure insurance before investing, says Harsh Roongta

Young earners should prioritise repaying loans, securing adequate insurance and building a regular savings habit before focusing on investment returns, Harsh Roongta

FCNR(B) a strong insurance policy, but repayment risks loom: Uday Kotak

Uday Kotak, founder and non-executive director of Kotak Mahindra Bank, on Monday described the foreign currency non-resident (bank), or FCNR(B), scheme as a “strong insurance policy.

Irdai extends feedback window for proposed insurance distribution reforms

The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors

Deepak Reddy to replace Tapan Singhel as Bajaj General Insurance MD & CEO

Deepak Reddy will take over as MD & CEO in April 2027, subject to IRDAI approval, as Tapan Singhel approaches the regulatory limit of 15 years at the helm of an insurer.

Banks weigh income impact of Irdai's proposed insurance commission caps

Banks are exploring higher policy sales and changes in product mix to offset potential fee income losses, while RBL Bank estimates a 50-60% decline in bancassurance income

Irdai's proposed distribution reforms aim for orderly transition: Ajay Seth

Irdai chief Ajay Seth says distribution reforms aim to improve efficiency without disrupting existing business models; Public Insurance Registry beta is due by January 2028

Co-payments and deductibles in health insurance: Are they right for you?

Both options can lower premiums, but they increase out-of-pocket expenses during claims. Understand how they work before choosing a health insurance policy

GST Council allows employers to claim ITC on group insurance coverage

The GST Council's decision to allow input tax credit on employee group health and life insurance is expected to reduce coverage costs for employers, particularly MSMEs

RBI to firm up views on Irdai's proposed insurance commission overhaul

Governor Sanjay Malhotra says the RBI will submit comments on Irdai's draft commission framework, which proposes product-level caps and lower management expense limits

Irdai distribution overhaul could hit brokers' revenue by 70%: IBAI

Insurance brokers have sought a deeper assessment of Irdai's proposed distribution reforms, warning of a 60-70 per cent revenue impact and around 1 million jobs at risk

Irdai proposal may put 1 million livelihoods at risk: Brokers' body

The brokers' body said proposed commission caps and lower expense limits could hurt employment and competition while reviving unethical business practices

Irdai commission cap plan sparks concern among insurance brokers

Brokers say lower payouts may not necessarily translate into cheaper premiums and could instead squeeze servicing economics, trigger consolidation, and weaken insurance distribution

RBI eases bank share acquisition norms for funds, insurers, pension funds

Eligible investors can seek one-time approval for subsequent acquisitions of up to 10 per cent in a bank, while prior approval remains mandatory for the initial acquisition