Insurance Sector

ICICI Lombard Q2FY27 net profit up 15.5% at ₹946 crore on income growth

ICICI Lombard's Q2FY27 net profit rose to Rs 946.4 crore on premium and investment income growth, while underwriting losses widened and the combined ratio reached 107 per cent.

ICICI Life Insurance's profit up 25% at ₹374 cr on higher premium income

The insurer's net premium income rose 16.56 per cent to Rs 13,804 crore in Q2FY27, while value of new business grew 20.3 per cent to Rs 712 crore, with margins improving

Regulatory headwinds may cloud dealmaking in a buzzing insurance sector

Insurers and distributors have warned that the changes could constrain near-term growth, hit distributor revenues and affect employment

Four reforms to enhance trust in insurance sector

From commission-free insurance plans to fee-only advisers and public complaint records, four reforms could improve transparency, curb mis-selling and help policyholders make informed choices

A look at insurance sector reforms

What electronic trading exchanges and central depositories did for capital markets in 1996, and credit bureaus did retail banking in 2000s, Bima Sugam and PIR are set to do for the insurance turf now

Irdai may roll out insurance distribution reforms in Jan 2027 amid backlash

The effective dates under consideration are Jan. 1 and April 1, Girija Subramanian, an executive at the Insurance Regulatory and Development Authority of India, said

Life insurance NBP jumped 21% in Sepember; non-life premium up 6%

LIC and private life insurers drive strong new business premium growth, while general and health insurers lift non-life premiums despite a sharp decline in crop insurance collections

Insurance brokers oppose Irdai's proposed reforms, warn of job losses

The Insurance Regulatory and Development Authority of India proposed the rules as part of a discussion paper in late September and invited stakeholders to submit feedback by October 25

Insurers must compete on price, not distributor commission: Irdai chief

Irdai Chairman Ajay Seth says proposed insurance distribution reforms are not final and stakeholder feedback will be considered before draft regulations are issued

Irdai's insurance reforms: What may change for industry, insurers, buyers

Irdai wants insurance prices and product details to be visible without sharing phone or email; its wider reforms could affect insurers, distributors and how customers buy policies

Containing costs

Irdai's proposals will help reduce mis-selling

Irdai proposes tighter expense limits, new commission caps for insurers

The regulator proposes phased cuts to insurers' expense limits, new commission caps and a ban on compulsory bundling of insurance with loans to lower costs and curb mis-selling

Term plans with return of premiums: Count the real cost before you buy

Compare the higher premium with pure term cover, factor in inflation, and examine lapse and surrender terms

Irdai eases dividend repatriation rules for foreign-owned intermediaries

The insurance regulator has removed the requirement for prior approval to repatriate dividends by insurance intermediaries with majority foreign ownership

Indian Bank to explore partners for insurance, mutual fund businesses

Indian Bank aims to enter the insurance and asset management spaces through joint ventures within 1.5 to 2 years, while launching wealth management services in H2

Irdai's insurance registry: What data will it link and who can access it?

From policy and claims records to intermediary and grievance data, Irdai's proposal sets out what the registry could connect and how access would be controlled

Irdai plans public insurance registry to bridge data gaps, widen coverage

Proposed registry will provide an interoperable access layer to verified insurance data, helping streamline policy servicing, claims and regulatory oversight

Irdai takes firm stance on insurers breaching expense management limits

Regulator's action on EOM breaches signals tighter scrutiny of operating and distribution costs, though experts expect limited short-term business impact

Life insurers' new business premium rises 20.7% to ₹47,005 crore in July

Life insurers' new business premium rose 20.7% in July, led by strong growth in LIC's group business and steady expansion by private insurers

Insurance sector poised for growth, but profitability concerns persist: S&P

S&P Global Ratings says reforms and low insurance penetration support long-term growth, but underwriting pressures and weak profitability remain key risks for insurers