Page 2 - Insurance Sector

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

LIC Q4 results: Net profit rises 23% to ₹23,420 crore on higher income

LIC reported a 23 per cent rise in fourth-quarter profit on higher premium and investment income, while FY26 profit touched a record Rs 57,419 crore

Irdai withholds variable pay of some insurers' CEOs over expense targets

Regulator's action follows unmet 'expense of management' targets

Star Health wants 65% of business to come from smaller cities: Anand Roy

Anand Roy talks regarding its ambitious plans to focus on tier II and tier III cities, the rising role of artificial intelligence, and security measures after the data breach incident

Prudential's India reboot comes with a distribution problem and growth test

Experts said lack of a strong bancassurance or agency network could remain a structural hurdle for Bharti Life Insurance, even as Prudential brings capital strength and experience in India

Irdai to frame Sabka Bima, Sabki Raksha Act norms within six months

Irdai said fresh regulations and amendments to existing insurance norms will be completed within six months of implementing the amended insurance law framework

Insurance cos must sell protection products first: SBI MD Ashwini Tewari

SBI Managing Director Ashwini Tewari says insurance firms should prioritise protection products over ULIPs and calls for stronger safeguards against mis-selling

GST Rationalisation impact: Share of high-value health policies doubles

Zero GST on retail health insurance boosts affordability, driving a sharp shift toward high-value policies as rising medical costs push demand for larger coverage

100% FDI in insurance: Global investors drawn to India's non-life market

Chubb, Old Mutual, Tiger Global Management, and Bain Capital are assessing India opportunities

Canara HSBC Life Insurance to expand tieups, says MD & CEO Anuj Mathur

Canara HSBC Life Insurance plans to reduce reliance on Canara Bank as it scales alternate distribution channels and sustains growth momentum

Geopolitical risks no longer rare for India's insurance industry

Rising geopolitical tensions are driving higher premiums, tighter underwriting and reinsurance costs, making risk pricing a structural shift for India's insurance sector

Hiring activity up 6% in April, insurance sector provides top boost: Report

India's white-collar hiring grew by 6 per cent year-on-year in April this fiscal, mainly driven by insurance, BPO/ITeS, and real estate sectors, according to a report released on Friday. Insurance led the sectoral hiring by registering 21 per cent year-on-year growth, followed by BPO/ITES (15 per cent), real estate (12 per cent), healthcare (11 per cent), and education (9 per cent), according to the Naukri JobSpeak Index report. However, telecom and banking sectors continued their four-month decline, falling to 11 per cent and 10 per cent, respectively, in April, while IT, pharma and auto remained largely flat, the report said. Even hiring in the Global Capability Centre (GCC) witnessed a 4 per cent dip in April, it added. The Naukri JobSpeak Index report is a monthly index that tracks trends in India's job market and hiring activities. When it came to geographies, among the top metros, southern cities dominated the trajectory, with Hyderabad recording 12 per cent growth, followed

Insurance for All by 2047: What India needs to fix to meet the goal

Irdai's 'Insurance for All by 2047' vision aims universal coverage, but falling penetration, rural access gaps and affordability challenges raise questions over achieving the target

SBI General eyes 10% mkt share in private insurance: Naveen Chandra Jha

SBI General targets 10% private market share, banking on retail growth and disciplined underwriting despite pricing pressures and rising acquisition costs

Regulations should minimise non-compliance, boost activity: Irdai chief

Irdai Chairman Ajay Seth advocates smart regulation and deregulation to balance compliance with growth and strengthen economic activity in India

SBI Life Q4 net profit slips 1.1% to ₹804 cr; premium income rises 16%

SBI Life Insurance reported a marginal decline in Q4 FY26 profit, while premium income rose 16 per cent year-on-year amid improved demand and evolving product mix

Fallout of DFS comments: Shares of SBI Life, Canara HSBC Life tumble

Life insurance stocks decline after DFS suggests banks avoid exclusive tie-ups, raising concerns over bancassurance models and potential impact on costs and margins

Parliamentary committees on insurance must expand scope, sharpen focus

As India's insurance sector evolves, experts call for a dedicated parliamentary panel to address emerging risks, consumer protection and regulatory gaps