Page 2 - Insurance Companies

Go Digit Insurance climbs 9% post Q1 earnings; Should you buy, sell, hold?

The insurance company experienced a double-digit rise of 36.6 per cent in its profit after tax (PAT) during the quarter ended June 30, 2025, to ₹138 crore

DFS Secy Nagaraju seeks insurance brokers' help to boost coverage in India

M Nagaraju calls on insurance brokers to play a key role in raising awareness and boosting insurance penetration, particularly in rural areas and underserved sectors

Irdai may curb Kiwi Insurance's retail health plans over promoter links

Insurance sector regulator Irdai may restrict Kiwi General Insurance from offering retail health products to avoid direct overlap, as the promoter of the non-life firm, WestBridge Capital, also holds a majority stake in leading standalone health insurer Star Health and Allied Insurance, sources said. Under existing regulations the same promoter cannot hold stake in two similar nature insurance firms. With about 60 per cent stake in Kiwi General Insurance, WestBridge now effectively holds a significant stake in companies that will both operate in the retail health insurance segment. It currently holds about 40 per cent stake in Star Health and Allied Insurance Company Ltd, as per information available on the BSE. However, public sector banks have got regulatory forbearance from Insurance Regulatory and Development Authority of India (Irdai) following the consolidation exercise undertaken in 2020. "This is the first time in the industry that the regulator is faced with a scenario whe

Motor insurance claims: Report theft quickly to aid investigation, recovery

Excessive delay in reporting can trigger suspicions of fraud or evidence tampering, experts say. Timely notification to both the police and the insurer is critical for smooth recovery

Life insurers' new business premium rose 4.2% in Q1 FY26, shows data

In April-June period of FY25, the life insurance companies posted nearly 23 per cent growth after the changes in surrender value norms effective from October 1, 2024

Non-life insurers' premiums rise 9% to ₹79,306 crore in Q1 FY26

General and standalone health insurers drive 8.85 per cent YoY premium growth in Q1FY26, but IRDAI's revised norms impact comparability with last year's figures

Consumer protection: Insurer held liable for delay in claim settlement

National Insurance ordered to pay interest and costs after consumer panel finds deficiency in service despite partial settlement of ₹73 lakh claim

Rise in helicopter crashes may spur 15-30% hike in insurance premiums

A string of helicopter accidents in India and global reinsurance losses may raise premiums by up to 30 per cent, with smaller operators already facing steep hikes

Sumit Madan next MD,CEO of Max Life Insurance, to take charge from Oct 2025

Max Financial Services on Tuesday said it has approved the appointment of Sumit Madan as Managing Director & Chief Executive Officer of Axis Max Life. Madan, currently Chief Distribution Officer of Axis Max Life, will replace Prashant Tripathy, Max Financial Services said in a regulatory filing. Tripathy has requested for early retirement and therefore his tenure would end on September 30, 2025. The Board of Directors of Axis Max Life in its meeting held earlier in the day has approved the elevation of Madan as MD & CEO for 5 years effective from October 1, 2025 till September 30, 2030, subject to the approval by the shareholders of insurance company, it said. Axis Max Life Insurance is a subsidiary of Max Financial Services. The appointment of Madan would be subject to the approval from the Insurance Regulatory and Development Authority of India (IRDAI) in accordance with the applicable laws, it said. Axis Max Life Insurance Limited is a joint venture between Max Financial ...

Axis Max Life Insurance appoints Sumit Madan as MD & CEO effective Oct 1

Madan is currently senior director and chief distribution officer (CDO) at the company

SBM Bank India, ICICI Prudential Life forge bancassurance partnership

SBM Bank India and ICICI Prudential Life Insurance Company have entered into a bancassurance partnership to offer an array of life insurance products to the bank's customers. This tie-up will enable the bank to cater to its customers a diverse set of solutions ranging from term insurance, long-term savings and wealth creation products to effectively planning for income on retirement, SBM Bank India said in a statement on Monday. Nikhil Rajadhyaksha, Head Retail Banking, SBM Bank India, said that with insurance penetration in India at 3.7 per cent in 2023-24, well below the global average of 7 per cent, there is substantial scope for market expansion. "By combining ICICI Prudential Life Insurance's innovative product portfolio and digital expertise with SBM Bank's vision of becoming a financial supermarket, we aim to deliver seamless, customer-centric solutions that enhance financial well-being and empower individuals with greater financial protection," Rajadhyaksha said. SBM Bank

LIC's top management set for June reshuffle; govt appoints 2 new MDs

LIC will see key leadership changes in June with two new MDs replacing outgoing executives and current MD & CEO Siddhartha Mohanty's term ending on 7 June

Max Financial Services stock jumps 4%, hits 52-week high post Q4 results

Max Financial Services stock jumped over 4 per cent to hit a 52-week high of ₹1,351 on Wednesday

Indian insurance companies planning $41 bn trade switch to bond forwards

Insurers are in talks with authorities to convert about Rs 3.5 trn ($41 bn) worth of rates derivative contracts into bond forwards. Such contracts offer investors the opportunity to own the securities

Insurance sector sees record deals worth over Rs 38,000 crore in two weeks

The biggest among them is the Bajaj Group's acquisition of Allianz's stake in their two insurance joint ventures for Rs 24,180 crore

Valueattics Reinsurance set to become India's first private reinsurer

So long GIC Re, a public-sector entity, was the only player in the field

Here's why Niva Bupa share slipped 5% in trade on February 24; details

The fall in the Niva Bupa share price came after the company said that it has received communication from an anonymous sender who claims to have the customer data of Niva Bupa

Pump Rs 300 crore into Bima Sugam by February-end: Irdai to insurers

After multiple delays, Phase-I of Amazon-like one-step digital platform may be launched in mid-2025

Insurers manage over 4,500 compliances in a year: TeamLease RegTech

The report suggested that insurers should adopt RegTech solutions to automate compliance processes and reduce manual tracking

Aviva India hit with $7.5 million fine for fake invoice scheme, shows order

The tax demand is significant for Aviva's India business, which recorded a profit after tax of only $10 million in the 2023-24 financial year