Insurance Sector

GST-led ITC loss, market swings to test insurers' profitability in Q4 FY26

GST-led input tax credit loss and weak equity markets may weigh on insurers' Q4 FY26 profitability, with life insurers facing sharper impact while general insurers see demand support

System readiness gaps: Insurers likely to seek forbearance for 1 year

Most insurers may seek one-year relief from Ind AS transition deadline as system readiness and automation gaps persist despite progress on proforma submissions

Excess capacity, lower losses drive steep decline in reinsurance rates

Reinsurance rates soften sharply in latest renewal cycle, with property premiums dropping up to 90 per cent amid excess capacity, lower losses and rising competition

Irdai forms joint expert group to guide insurers on Ind AS transition

Irdai forms a joint expert group to guide insurers on Ind AS transition, addressing implementation challenges, audit clarity, and actuarial roles

Irdai notifies Ind AS norms for insurers; allows one-year forbearance

Regulator allows one-year forbearance and extends parallel reporting to two years as insurers transition to Ind AS framework from April 2026

Strait of Hormuz opens to ships but marine covers to stay pricey

Insurance brokers say war-risk premiums will remain elevated as uncertainty persists in West Asia despite Iran allowing passage for non-hostile vessels through Hormuz

Soft landing for aviation insurance premiums amid benign loss trends

Aviation insurance rates have softened due to excess reinsurance capacity and lower global losses, though geopolitical risks continue to influence underwriting conditions

Bima Sugam to roll out standardised life, health, motor insurance this year

Bima Sugam to introduce standardised motor, health and life products this year, while Irdai plans a Public Insurance Repository to enhance data infrastructure and analytics

HDFC ERGO General Insurance appoints Parthanil Ghosh as MD & CEO

HDFC ERGO General Insurance appoints Parthanil Ghosh as managing director and chief executive officer from April 16, subject to regulatory approvals

GIC Re war-risk curbs over West Asia war expose cracks in marine insurance

GIC Re's decision to withdraw war-risk cover in sensitive maritime zones highlights the fragile economics of marine insurance and raises concerns for Indian refiners dependent on global oil shipments

Australia's QBE to buy Prism Johnson's 51% stake in Raheja QBE for ₹324 cr

QBE Insurance Group will acquire Prism Johnson's 51 per cent stake in Raheja QBE for Rs 324 crore, making it the first foreign insurer to fully own Indian general insurance company after FDI reforms

Irdai proposes April 2026 shift to Ind AS with parallel reporting phase

To smooth the transition, Irdai has proposed parallel reporting under both Ind AS and Indian GAAP during the first year of implementation

Health insurance premiums increase over 27% in January on GST boost

Strong retail demand, higher government scheme premiums and GST rationalisation fuelled robust January growth for general and standalone health insurers

Life insurance firms propose deferment of frontloaded commissions

Industry players meet Irdai chief; upfront payouts may be deferred to reduce acquisition costs

DPIIT notifies 100% FDI in insurance companies under automatic route

The Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce and Industry Ministry has notified 100 per cent foreign direct investment (FDI) in the insurance sector following the enactment of legislation in this regard. The Government of India has reviewed the extant FDO policy on insurance sector and has made the amendments under the Consolidated FDI Policy of 2020, as amended from time to time, the DPIIT said in a notification. As per the Press Note No. 1 (2026 Series), 100 per cent FDI is allowed in the insurance companies under automatic route. In case of Life Insurance Corporation of India, only 20 per cent is permitted through automatic route. In an Indian insurance company having foreign investment, at least one among the chairperson of its board, its managing director and its chief executive officer, shall be resident Indian citizens, it said while specifying other conditions. Parliament passed Sabka Bima Sabki Raksha (amendment of insurance laws)

DFS drafts Financial Inclusion 2.0 roadmap, focuses on universal banking

Financial Inclusion 2.0 plan aims to deepen access to banking, credit, insurance, pension and digital services, targeting universal coverage by 2047

Leading South Korean insurers explore entry into India's $130 bn market

MUMBAI, Feb 6 (Reuters) - South Korean firms Samsung Fire & Marine Insurance, Mirae Asset Financial Group and Hyundai Marine & Fire Insurance Co are in exploratory talks about entering India's $130 billion insurance market, three Indian sources said.

Private life insurers see early signs of recovery in credit life business

In a post-earnings analyst call, ICICI Prudential Life Insurance's management said the MFI-linked credit life segment has begun to revive during the quarter

ToR for banking panel likely by next month, says DFS secy M Nagaraju

On hiking FDI in PSBs, DFS Secy M Nagaraju says govt is considering raising the FDI cap to 49% from 20% to boost capital; inter-ministerial consultations are underway

Niva Bupa aims to turn profitable in Q4 FY26: CFO Mahendra Vishwanath

Health insurer expects profitability in the March quarter as impact of accounting norm changes eases, with Indian-GAAP numbers set to converge with IFRS