Insurance Premium

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

Niva Bupa may take hit of 50-60 bps on combined ratio after GST, ITC change

Niva Bupa expects a modest 50-60 basis point hit from GST-related ITC loss but aims to offset it through higher policy sales, revised distributor commissions, and cost efficiencies

All GST benefits will go to customers: HDFC Life Insurance MD & CEO

HDFC Life sees 50% surge in retail term sales after GST cut; CEO Vibha Padalkar outlines margin recovery, product mix shift, and strategies to offset ITC impact

GST cut on insurance may not bring relief, premiums could rise 12-18 %

Nil-rated vs exempt GST status will decide if savings reach you, or if premiums quietly climb instead

Life insurers' new biz premiums fall 5.2% in Aug as LIC drags growth

New business premiums of life insurers fell 5.2% YoY in August to Rs 30,959 crore as LIC posted a sharp decline, while private insurers recorded double-digit growth

Life insurance sector posts 6% rise in new business premiums in August

Indian life insurers registered a 6.01 per cent growth in new business premiums (NBPs) in August 2025, driven by higher sales of both single and non-single premium policies, a release said on Tuesday. NBPs increased to Rs 1,63,461.52 crore in August this year, compared to Rs 1,54,193.76 crore in the corresponding period last year, according to data released by the Life Insurance Council. Individual single premiums grew 9.71 per cent, while individual non-single premiums rose 4.51 per cent during the period. Combined individual premium collections posted a 6.20-per cent growth on a YTD basis, it showed. The council said the growth was supported by insurers' focus on expanding coverage among first-time buyers and strengthening distribution. Life insurers added more than 4.37 lakh individual agents, though cumulative agent count registered a modest 2.75 per cent growth, due to attrition, the release said. Agent addition along with the rapid pace of digitisation is expected to further

More senior citizens opt to port health insurance policies: Experts

Innovation, digital ease driving the shift, say insurers

Centre for exempting insurance premium from GST: Samrat Choudhary

The Centre has proposed exempting life and health insurance premium from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST. The Group of Ministers (GoM) on life and health insurance will submit its report to the GST Council. The report will also include views and concerns expressed by some state finance ministers, he said. "The Centre's proposal is clear that the insurance sector's individual and family (policies) should be exempt from GST. This has been discussed and the GoM report will be presented to the Council," Choudhary told reporters here after the meeting of the GoM. "All members have given their approval for lowering rates. Some states have given their own views," he said, adding a final call on rates will be taken by the Council. Choudhary is the convenor of the 13-member state GoM on health and life insurance. The Centre's proposal on insurance is par

PM's Diwali Dhamaka may come as GST cuts on small cars, insurance premiums

Centre mulls lowering GST on small cars to 18 per cent and slashing levies on health and life insurance

Insurance premium for aircraft expected to go up, says IndiGo CEO

The insurance premium for aircraft is expected to go up as there are elements of the geopolitical situation, inflationary pressures and accidents, IndiGo CEO Pieter Elbers said on Wednesday. The country's largest airline, which is in discussions on finalising the insurance premiums, has a fleet of over 400 planes, and the fleet is expanding. During a virtual interaction post announcing the June quarter results, Elbers said the insurance premiums always follow some of the trends in the market and "we do expect them to go up and we're still finalising some of the discussion in what magnitude that would be". Without mentioning the possible quantum of increase in premiums, he said there are different elements coming together, including the entire geopolitical situation, and there are overall inflationary pressures. "And then clearly, when accidents are happening, and not only the one which happened in India, but on the global scale, insurers operate on the global scale. They look at ..

Air India crash risks fueling up to 30% jump in airline insurance premia

Insurance claims for the Air India crash are expected in the realm of $475 million, including those for the aircraft's hull and engine as well as additional liability for loss of life

Life insurers see 11% rise in new premium collection in Apr-May 2025

Life insurers recorded a 10.8 per cent increase in new business premium collection in the first two months of the current fiscal. The new business premium collection rose by 12.6 per cent in May 2025, according to data released by the Life Insurance Council on Monday. New business premium income rose to Rs 30,463 crore in May 2025 from Rs 27,034 crore in the same month a year ago. The collection in the first two months of FY2025-26 rose to Rs 52,427 crore from Rs 47,293 crore in the April-May period of 2024-25, the data showed. This strong performance is attributed to life insurers' focus on encouraging first-time buyers to secure essential life insurance solutions, contributing to a 3.35 per cent growth in combined individual premium collections for May 2025 and 2.46 per cent growth on a year-to-date basis, it said. According to data released by the council, the life insurance industry saw individual single premiums grow by 5.21 per cent year-on-year to close at Rs 3,525 crore fo

LIC push lifts life insurers' new business premiums in April, shows data

India's life insurance industry saw an 8.43 per cent rise in new business premium in April, led by LIC's group premium growth, though policy issuances fell over 13 per cent

Indo-Pak tension: War risk premium in marine, aviation sector may inch up

Marine and aviation insurance premiums may rise if India-Pakistan tensions escalate, with reinsurers likely to revise exclusions and reassess cyber risk exposure

Life insurers' NBP grows 5% in FY25; premium collected shy of Rs 4 trn mark

The premiums of the largest private life insurer - SBI Life Insurance - slipped by 7 per cent Y-o-Y to Rs 35,576.67 crore

High premiums, low funds key barriers to buying health, term insurance

About 20 per cent of the respondents said they do not fully understand health insurance, and 18 per cent saw buying it as a cumbersome process

ICICI Lombard Gen Insurance Q4 results: Net profit slips 2% to Rs 510 cr

ICICI Lombard on Tuesday reported a 2 per cent decline in net profit to Rs 510 crore for the fourth quarter ended March 31. The company had reported a post-tax net profit of Rs 520 crore in the year-ago period. However, the total income of the company rose to Rs 5,851 crore in the quarter under review compared to Rs 5,165 crore in the year-ago period. The gross direct premium income of the company improved to Rs 6,211 crore against Rs 6,073 crore in the same quarter a year ago, registering a growth of 2.3 per cent. The board have recommended a final dividend of Rs 7 per equity share or 70 per cent of face value of Rs 10 each for the financial year ended March 31, 2025, ICICI Lombard said in a regulatory filing. The solvency ratio was 2.69 times at March-end 2025 against 2.62 times on March 31, 2024, higher than the minimum regulatory requirement of 1.5 times.

Non-life insurers' premium touches Rs 3 trillion mark in FY25 amid slowdown

The 6.2 per cent increase in premiums collected come in the backdrop of slowing economic growth in the closing quarters of FY25 and a change in accounting norms

What are the best health insurance premium rates for young women?

Here are the best health insurance rates for young women living on their own in a major metro, provided by Policybazaar.com

What are the most attractive insurance premium rates for young males?

These are the rates for a 30-year-old male, non-smoker living in a metro city for a sum insured of Rs 10 lakh