Insurance Companies

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

CEOs quitting general insurance firms to pursue entrepreneurial ventures

The recent trend of CEOs exiting general insurance companies to pursue entrepreneurial ventures highlights the untapped investment potential in the sector, as India continues to remain an under-penetrated market. Some of the sector's most experienced professionals have moved away from established institutions and found funding support coming from the private equity side. For example, Neelesh Garg, former MD & CEO of Tata AIG General Insurance, has co-founded Kiwi General Insurance alongside US-based private equity firm WestBridge Capital. WestBridge holds approximately 70 per cent of the entity, with Garg holding a 30 per cent stake. Insurance regulator, IRDAI, granted Kiwi its certificate of registration in March 2026. Three months later, HDFC Ergo General Insurance MD and CEO Anuj Tyagi quit to pursue entrepreneurial aspirations. Subsequently, Anup Rau stepped down in March this year from the position of MD and CEO of Generali Central Insurance after a seven-year tenure that saw

Bond forwards replace FRAs for insurers; SDLs become preferred choice

Insurers are increasingly shifting to bond forwards linked to state development loans, attracted by higher yields and the RBI's new framework for managing interest-rate risk

RBI's proposed mis-selling norms may hit credit life business of insurers

RBI's draft rules on bundling and consent could dent credit life insurance and bancassurance income, though insurers say overall impact will be limited

ULIP traction rises in Q3FY26 as equity markets outperform year-ago period

Private life insurers reported stronger demand for ULIPs in Q3FY26 as equity markets gained sharply. Customers also shifted towards higher sum assured plans with protection-linked riders

LIC's Q3 net profit up 17% in Q3 due to higher premiums, investment income

LIC's Q3 profit rose 17% on strong premium and investment income, while higher VNB margins and lower cost ratios supported overall performance

ACKO Life Insurance to exclusively focus on pure protection products

ACKO Life Insurance shifts to a pure term-only model, aiming to curb mis-selling and tackle India's under-insurance by keeping life cover simple and protection-focused

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

New Labour Codes push up operating costs for private banks, insurers

Private sector banks and insurers report higher employee costs in Q3FY26 after accounting for statutory impact of New Labour Codes notified by the Centre in November 2025

EDME Insurance eyes overseas expansion, targets ₹1,600 cr business

EDME Insurance Brokers, formerly Aditya Birla Insurance Brokers Ltd, is eyeing an overseas expansion and aims to double its business to Rs 1,600 crore over the next five years. "We would also like to spread our wings outside India, namely to Dubai, Singapore and London as well. We feel that, in the next one year or so, we will set up offices in both Singapore and Dubai. So, London might come later," EDME Insurance Brokers Chief Executive Officer Sanjay Radhakrishnan told PTI. Talking about the acquisition of UIB Insurance Brokers (India) Pvt Ltd, he said that with the buy, business has increased to about Rs 850 crore. With the deal, he said, EDME Insurance Brokers has become the second largest in the country after Marsh. For the rapid growth, he said, "We have identified around 14-18 industries that we want to focus on. For example, IT and BFSI, construction, infrastructure, and power. We are also looking at sports, media, and entertainment. Additionally, we are looking at mergers

Insurers knock on Irdai door for clarity on director overlap ban

Insurers seek Irdai clarity on a new law barring common directorships, a move that could disrupt boards of bank-backed insurance companies

Insurers approach Irdai over common directorship rule in new Bill

Insurance companies have sought clarification from Irdai on a provision barring directors from holding board roles across insurers, banks and investment firms, citing governance and compliance concern

Cap or stagger distributor payouts: Life Insurance Council committee

RBI has flagged high expense structure, particularly acquisition costs of insurance companies, in its recent report

Why did The New India Assurance Company rise 2% in trade today? Find here

The share of The New India Assurance Company rose after announcing disclosures regarding GST orders and show-cause notices received.

Insurance companies can't reject claim by delaying cheque presentation

The Bombay High Court ruled that an insurer cannot reject a claim by delaying the deposit of a valid premium cheque, holding the insurance company liable for deficiency in service

Galaxy Health Insurance launches Galaxy Twin 360 with IPD and OPD cover

Galaxy Health Insurance has launched Galaxy Twin 360 for young adults, combining inpatient cover with outpatient benefits and wellness services to improve renewals and long-term adoption

Shriram Life posts 17% rise in individual new business premium in H1FY26

The insurer's individual new business annualised premium equivalent (APE) grew 8 per cent YoY to ₹544 crore, while renewal premiums surged 43 per cent

Listing of PSU financial subsidiaries to unlock value: DFS Secretary

M Nagaraju says listing subsidiaries of state-owned financial entities will unlock value, strengthen corporate governance, and enhance market oversight

Rs 6 trillion & counting: DIIs pump record money in Indian stocks in 2025

The strong domestic flow, meanwhile, offset the selling by foreign portfolio investors (FPIs) during CY25, who pulled out $23.3 billion (Rs 2.03 trillion) from the domestic equity markets.

Life insurers cut agents' slice to give customers the full GST pie

Commission payouts reduced by 18% as insurers pass GST cut benefits to customers