Page 2 - Insurance Sector

Insurance industry takes ₹10,000 crore hit each year on frauds: Report

A new BCG-Medi Assist report highlights how fraud, waste, and abuse are eroding insurer margins, inflating premiums and weakening sectoral RoE, with mid-ticket claims driving most leakages

Regulatory, customer pattern changes nudge foreign insurers' India interest

A slew of foreign insurers have already either bought stakes in existing insurance companies, or formed a new joint venture to tap the potential of the Indian insurance market

Need to track, trace unclaimed insurance funds: Irdai member Iyer

IRDAI member Swaminathan Iyer stresses the need to track ₹1.9 trillion in unclaimed life insurance funds to build trust and boost penetration, vital for achieving 'insurance for all by 2047'

GST cut lifts life, retail health insurance growth: Irdai member Sood

Deepak Sood says zero GST on life and health insurance has sparked strong growth, with demand set to accelerate in H2FY26 as the industry pushes for deeper penetration and better distribution

Partial hospital bill payout: Boost policy cover to secure full claims

In particular, avoid room rent caps that lead to proportionate deduction

Axis Max Life chases 'breakout No. 3' in life insurance: MD & CEO

MD & CEO Sumit Madan says product mix tweaks and cost control will offset ITC loss as firm targets "breakout number 3" position in industry

CCI approves proposed merger between InsuranceDekho and RenewBuy

The Competition Commission of India has approved the merger of InsuranceDekho and RenewBuy, marking a major consolidation in India's digital insurance marketplace

LIC Q2 profit surges 32% to ₹10,053 cr, net premium income up 5.5%

LIC's profit rose 32% YoY on stronger core operations and investment income, while CEO R Doraiswamy said GST rationalisation will drive business growth and expense optimisation

Health insurance sum insured: Review every 2-3 years to beat inflation

To strike a balance between the need for protection and affordability, combine base policy with super top-up

Govt seeks applications for Irdai WTMs for actuary, distribution posts

The Ministry of Finance has opened applications for two senior Irdai positions - Whole Time Members (Actuary and Distribution) - as the current incumbents' terms conclude in January and February 2026

GST waiver alone not enough to deepen penetration, say insurers

Insurers say the GST exemption will make policies cheaper and spur demand, but awareness, innovation, and efficiency are key to improving India's insurance penetration

Insurance sector is currently at unstable equilibrium: Irdai chief

Regulators set the agenda as insurance, pensions, digital currency, cyber risk, and crypto policy took centre stage on the penultimate day of the leading summit

Bima Sugam can widen insurance access, say industry leaders at BFSI Summit

At the Business Standard BFSI Insight Summit 2025, industry leaders said that Bima Sugam can make insurance more accessible, affordable and transparent, helping reach more people across India

Awareness, risk management key to insurance growth: Leaders at BFSI Summit

At the Business Standard BFSI Insight Summit 2025, insurance leaders said GST waiver alone will not boost coverage; better awareness, innovation and risk management are key to sector growth

PB Fintech share zooms 5% on robust Q2 insurance growth; buy, sell or hold?

PB Fintech shares rose after the company reported a strong September quarter (Q2FY26) performance, driven by robust growth in its insurance segment.

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

The summit's broad focus is charting the future of the financial services industry at a critical economic juncture

Private life insurers see early demand surge after nil GST rollout

Private life insurers report strong post-GST growth as customers respond positively to the nil GST regime; term insurance demand surges 2.5x, say ICICI Prudential, HDFC Life

HDFC Life Q2 in line; Analysts see margin pressure but maintain 'Buy' calls

On the bourses, HDFC Life share price tumbled up to 4.61 per cent to hit an intraday low of ₹726.15 per share.

ICICI Lombard Q2: Mixed growth, motor weak; health & fire support Buy call

ICICI Lombard's combined ratio rose to 105.1 per cent, up 68 basis points Y-o-Y, though excluding catastrophe (CAT) losses, it stood at 103.8 per cent, according to Nuvama.

ICICI Lombard General Insurance's Q2 net profit up 18% at ₹819 crore

The combined ratio of ICICI Lombard stood at 105.1 per cent in Q2FY26 as against 104.5 per cent in Q2FY25