Insurance Sector

LIC Q2 net profit rises 20% to ₹12,076 crore, net premium income up 16.2%

In the first half of FY27, APE rose 5.72 per cent YoY to ₹30,696 crore

New motor insurance rules: Insurers warn against opting out of key covers

Insurers say customer awareness will be crucial as Irdai's four-layer motor insurance framework takes effect on December 15, allowing policyholders greater flexibility in choosing covers.

Cyberattacks pushing up insurance claims; premium rates stay soft: Experts

Rising ransomware attacks and data breaches have pushed up cyber insurance claims in the banking sector, but increased reinsurance capacity continues to keep premium rates soft.

NBFCs brace for hit from Irdai's insurance distribution overhaul

Shriram Finance expects a Rs 100 crore reduction in insurance commissions, while Piramal Finance estimates an 18-24 basis point impact on return on assets if Irdai's proposed rules take effect

BFSI Insight Summit 2026: Life insurers seek longer transition period

Industry leaders back customer-centric changes but flag impact of commission caps, expense limits, and uniform implementation timelines

Insurance must grow 1.5-2x faster than GDP: Irdai chief Ajay Seth

Ajay Seth says India's insurance sector must grow 1.5-2 times faster than the economy, with faster claims settlement, greater transparency and lower distribution costs key to expanding coverage

Big part of health insurance is a pull product, not push: Irdai's Ajay Seth

At the BFSI Insight Summit 2026, Irdai chief Ajay Seth called for transformative reforms to help insurance grow up to twice as fast as India's economy, with faster claims and wider coverage

Insurers need stronger safeguards against AI-driven fraud, say experts

Business Standard BFSI Insight Summit 2026: Insurers say AI-generated documents and evolving cyber threats are testing traditional risk assessment, prompting calls for stronger safeguards

Dynamic pricing works for airlines, not insurance, says Irdai Chief

Speaking at the Business Standard BFSI Insight Summit 2026, Irdai Chairman Ajay Seth discussed the insurance sector's role in India's economic growth and the need for faster expansion and reforms

Don't let erroneous hospital records hold up your claim: Know your rights

A Delhi consumer court ruling highlights why insurers cannot reject claims over unreasonable document demands and why policyholders must ensure their medical records are accurate.

SI Arena debuts at BFSI Summit: Bringing market experts closer to investors

This year's edition introduces the Smart Investor (SI) Arena, a dynamic space crafted to empower retail and next-gen investors to make sharper financial moves.

BFSI Summit 2026: Top experts from the finance world to share insights

The three-day Business Standard BFSI Insight Summit begins in Mumbai on October 26, bringing together top regulators, bankers and investors to discuss key challenges facing India's financial sector

BFSI Summit 2026: Shaktikanta Das to Poonam Gupta, here are key speakers

Meet the policymakers, regulators, bankers and investors shaping India's financial future, from monetary policy and market reforms to banking, insurance and investment.

BFSI Summit 2026: Mapping India's financial future, next phase of growth

The three-day Business Standard BFSI Insight Summit begins in Mumbai on October 26, bringing together regulators and industry leaders to discuss banking, markets, AI and economic growth.

Munich Re expects India to occupy more space in global portfolio: Jurecka

Christoph Jurecka says low insurance penetration, economic growth and a 95% natural catastrophe protection gap offer significant opportunities for reinsurance

IndusInd General Insurance names Sharad Mathur as Managing Director & CEO

IndusInd General Insurance Company Ltd (formerly Reliance General Insurance), part of IndusInd International Holdings Ltd (IIHL) Group, on Tuesday announced the appointment of Sharad Mathur as its Managing Director & CEO, following statutory approvals. Mathur brings three decades of experience in the insurance and financial services industry, with a strong track record in organisational transformation, distribution expansion, technology-led innovation, growth and governance, the company said in a statement. Prior to joining IndusInd General Insurance, he served as MD & CEO of Universal Sompo General Insurance for over six years, leading its transformation and strengthening its distribution, risk management, and tech-led customer servicing capabilities. Earlier, he held leadership positions at SBI General Insurance and ICICI Lombard, contributing to their growth from their formative stages. At IndusInd General Insurance, Mathur will lead the company's next phase of ...

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