Insurance Industry

ICICI Pru Life Q3 margins expand despite slow premium growth, say analysts

Most analysts highlighted that the insurer's ability to sustain margins despite the loss of GST input tax credit was the key takeaway from the Q3FY26 results.

India's insurance penetration needle remains flat at 3.7% in 2024-25

In 2024-25, insurance density in India showed a modest rise, increasing from $95 in 2023-24 to $97 in 2024-25.

GI Council appoints S Prakash as CEO, Health Insurance Ecosystem

In his new role, he will work closely with insurers, hospitals, regulators and other stakeholders to support sector-wide initiatives

Misselling in insurance sector a concern, insurers must probe cause: Irdai

Mis-selling is a significant concern in the insurance sector, and insurers need to conduct a root cause analysis to identify the underlying causes, the regulator Irdai said in its latest annual report. The total number of grievances registered against life insurers has remained almost the same at 1,20,429 in 2024-25 against 1,20,726 in 2023-24, whereas the total number of grievances registered under UFBP (Unfair Business Practices) has increased from 23,335 in 2023-24 to 26,667 in 2024-25, according to the report. Thus, the share of UFBP grievances to total grievances has increased to 22.14 per cent in FY25 compared to 19.33 per cent in the previous fiscal. Mis-selling involves the sale of insurance products to consumers without proper disclosure of terms, conditions or suitability. "To prevent or reduce mis-selling, insurers have been advised to implement strategies, such as assessing product suitability, implementing distribution channel-specific controls and developing a plan to

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 intermediaries with high commissions may see payouts drop

Currently, 50 per cent of life insurance investment is allocated to government securities and the balance 50 per cent to other alternative investments

Robust growth, valuations to drive gains for general insurance companies

he insurance industry saw both positives and negatives from GST reform, with increased affordability driving growth in retail term and health, while ITC changes hit profitability

Travel insurance: If an airline cancels a flight, it pays, not the insurer

Policies typically reimburse cancellations for reasons such as medical emergencies, death of an immediate family member, or natural disasters

Irdai asks insurers for customer-centricity, stricter grievance compliance

Irdai has raised concerns over rising complaints, urging insurers to improve grievance redressal systems, standardise classification processes

Govt, industry need to act on new age risks: General Insurance CEOs

Industry leaders emphasise the need for dynamic, data-focused models and protection for new infrastructure, like EV charging stations

Insurance industry seeks stability amid regulatory and tax turbulence

Regulatory shocks and withdrawal of a tax benefit slowed down growth, nudging firms to focus on affordability, efficiency and chasing more customers

DPDP norms nudge insurance firms to boost tech systems, consent frameworks

Industry leaders say phased deadlines through 2027 give them time, but the compliance effort will require major process redesign

80% of Indians with disabilities lack health insurance, warns NCPEDP

A new NCPEDP white paper reveals that most persons with disabilities in India remain uninsured, face high rejection rates and encounter discriminatory practices across public and private schemes

High claims, low payouts: Why India's health insurance cover isn't enough

These concerns reflect a deeper structural challenge. India's insurance penetration remains low at 3.7 per cent of gross domestic product, roughly half the global average

Mahindra, Manulife to set up 50:50 JV for life insurance in India

The JV aims to offer long-term savings and protection solutions tailored to the diverse and growing needs of India's population, in line with India's 'insurance for all' vision by 2047

Life insurers' new business premium rises 12% in October on GST relief

Life insurers saw a 12% YoY rise in new business premium to Rs 34,006.9 crore in October 2025, supported by GST exemption benefits and robust individual and group segment growth

Pent-up demand boosted retail health insurance segment in October

According to data released by the General Insurance Council, standalone health insurers (SAHI) reported 38.3 per cent Y-o-Y growth in premiums for October, reaching ₹3,738.34 crore

Policyholders' views needed to make rules: Irdai Chariman Ajay Seth

Irdai Chairman Ajay Seth said the regulatory process must integrate policyholders' expectations and strengthen coordination among regulators to address overlaps and systemic financial risks

Kshema General Insurance to receive $20 million capital infusion from GCF

The capital received will be utilised to expand Kshema's offerings to reach a wider number of uninsured farmers and their crops, strengthening its underwriting capacity.

As insurance regulator, I have an open mind: Irdai Chairman Ajay Seth

IRDAI chief outlines priorities on GST reforms, capital efficiency, Bima Sugam rollout, and risk-based supervision, promising orderly growth and stronger policyholder protection