Insurance Sector

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

India's insurance sector set for 'massive' growth despite risks: S&P

India's insurance sector is poised for 'massive' long-term growth, supported by structural reforms, low insurance penetration, and a favourable regulatory environment, but macroeconomic headwinds and profitability pressures remain key risks, S&P Global Ratings said on Thursday. In a report titled 'India Insurance Sector Trends', S&P said favourable regulatory reforms are attracting foreign capital and accelerating M&A activity in the sector. "Accelerated industry reforms and low penetration levels to drive massive sector growth in India. Liberalization, competition and regulatory changes will shape the insurance sector's development," the report said. The government had earlier this year approved 100 per cent foreign direct investment (FDI) in the insurance sector under the automatic route. S&P said both life and non-life insurance sectors have growth potential, but profitability of non-life insurers could continue to be strained as pricing philosophies lean heavily on

Bajaj General Insurance ties up with Swiss Re for commercial partnership

Partnership will use Swiss Re's international platform to offer structured risk solutions to Indian companies

Beyond policy sales: Insurance companies must prioritise customer retention

Rising life insurance policy surrenders highlight weak policy persistency, underscoring the need for reforms focused on better products, sales practices and consumer retention

Premature life policy exits surpass maturity payouts, shows govt data

Surrenders and withdrawals accounted for 39% of total benefits paid by life insurers in FY26, overtaking maturity payouts amid rising early exits from long-term policies

Irdai's revised share-transfer regulations may raise compliance burden

Legal experts say the revised regulations could require more insurance share transfers to seek prior regulatory approval, despite higher thresholds under the SBSR Act

General Insurance Council defends fever admission advisory framework

Insurance body says the advisory follows ICMR and health ministry guidelines, aims to curb unnecessary hospital admissions and does not restrict doctors' clinical autonomy

Irdai grants licence to ProTec General Insurance, fourth approval in 2026

Regulator also approves reforms covering investment norms, intermediary registration, capital raising, governance and policyholder protection measures

Insurance distribution lifts fee income at most public sector banks in FY26

Public sector banks saw higher insurance commission income in FY26, led by SBI, while mutual fund distribution earnings showed mixed trends across lenders

Irdai grants health insurance licence to Prudential HCL joint venture

The Prudential-HCL Group joint venture becomes India's eighth standalone health insurer, with the regulator issuing its third registration of calendar year 2026

ESIC clears direct hospital management, extends unemployment benefit scheme

Corporation approves direct management of upcoming ESI hospitals, extends the Atal Beemit Vyakti Kalyan Yojana till June 2027, and clears new medical education and healthcare initiatives

Generali Central General Insurance targets ₹10K cr premium in five years

The insurer plans to focus on profitable growth by expanding retail health, fire and SME insurance while reducing exposure to intensely competitive group health business

Irdai sets up working group to guide AI adoption in insurance sector

The working group will guide insurers on AI adoption, governance and oversight while ensuring policyholder interests and data protection remain safeguarded

Irdai proposes changes in investment rules for insurance companies

Insurance regulator proposes amendments covering mergers, promoter definitions and shareholding norms while reducing transaction fees to improve ease of doing business

Govt appoints Dinesh Pant and Girija Subramanian as Irdai members

The Appointments Committee of the Cabinet has approved the appointment of LIC's Dinesh Pant and New India Assurance's Girija Subramanian as members of Irdai

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

Insurers wary as Irdai tightens executive compensation framework

Irdai's revised compensation norms linking executive pay to customer outcomes and compliance metrics have sparked concerns over growing regulatory intervention

Aviva Life targets 3x jump in annualised new business premium in 5 years

The insurer currently has around 350,000 customers and plans to increase annual customer additions from nearly 25,000 at present to 50,000 initially, before gradually scaling up to 75,000

Irdai asks insurers to link performance pay with customer service metrics

The insurance regulator has revised remuneration norms for senior executives, mandating stronger focus on claims settlement, grievance redressal and policyholder outcomes