Page 8 - Insurance Sector

Reinsurance renewal rates likely to see a drop of up to 10% in FY26

Last year, the reinsurance rates saw a marginal increase of around 5 per cent after adjusting for risk

Insurance sector sees record Rs 38,000 crore worth of deals in 2 weeks

The past fortnight saw a slew of big-ticket deals in the insurance sector, with the biggest of them being a Rs 24,180 crore acquisition by Bajaj Allianz

Insurance sector sees record deals worth over Rs 38,000 crore in two weeks

The biggest among them is the Bajaj Group's acquisition of Allianz's stake in their two insurance joint ventures for Rs 24,180 crore

Govt approves Swaminathan S Iyer's appointment as Irdai Life Member

He is appointed for five years from the date of assumption of charge or until he attains the age of 62 years or until further orders, whichever is earlier

Star Health Insurance's shares hit 52-week low amid reports of Irdai probe

Company calls it a routine exercise to ensure compliance

Former SBI & LIC chiefs among new members of Irdai's advisory panel

The regulator proposed that the IAC should allow the circulation of meeting notices and agendas to its members in less than seven days, subject to chairperson approval

Allianz SE eyes partnership with Jio Financial after ending $2.8 billion JV

German firm Allianz may join hands with Mukesh Ambani-led Jio Financial Services as it seeks fresh entry into India's life and general insurance sector

Allianz to explore new avenues in India after exit from Bajaj JVs

Bajaj Group will acquire the 26 per cent stake in BALIC for Rs 10,400 crore and in BAGIC for Rs 13,780 crore from Allianz

Irdai move on equity derivatives: Insurers gain tools to manage volatility

Irdai felt the need to permit insurers to hedge through equity derivatives

Buffett's Berkshire posts record operating profit on insurance, investments

Fourth-quarter operating profit also set a record, rising 71 per cent to $14.53 bn, or about $1,010 per Class A share, from $8.48 bn a year earlier, reflecting gains in its insurance operations

Over 50% individuals feel savings not enough for future, finds study

More than half of Indians surveyed feel unprepared for their future despite having a detailed financial plan or having done some degree of planning, says a study. The study of individuals in the age group of 35 to 54 years who financially provide for their ageing parents and growing children found that 60 per cent of respondents feel their savings are not enough for future. The respondents agree that "no matter how much they save or invest, they feel like it's never enough for future", the study by YouGov said. A majority 94 per cent of respondents said they either have a detailed financial plan or have done some degree of planning, the study, which surveyed more than 4,000 people across 12 cities across India, said. The study of aspirations, attitudes and financial preparedness of individuals in the 35-54 years age group stated stated that more than 50 per cent worry about running out of money, always feeling behind and not doing well enough despite efforts. "They show high relia

BALIC becomes the first insurer to go live with Bima-ASBA facility

Through Bima-ASBA, policyholders can opt for UPI's One-Time Mandate (OTM) and authorise the blocking of a specified amount, i.e up to Rs 2 lakh, in their bank account via UPI

Insurers manage over 4,500 compliances in a year: TeamLease RegTech

The report suggested that insurers should adopt RegTech solutions to automate compliance processes and reduce manual tracking

Govt asks private insurers to increase free look period to one year

Currently, the free look period offered by insurers is one month

Bid to mitigate margin impact: Life insurers rejig agent fee structures

The companies had to launch all their products as per the new norms by December 31, 2024

Goal is for Axis Max Life Insurance to become a listed entity: MD

In first nine months, we have grown at 25 per cent versus private sector growth of 19 per cent and overall industry growth of 14 per cent. So we are gaining market share as we go along, the MD said

100% FDI in insurance sector to woo more foreign players: Moody's

Increasing foreign investment limit in the insurance sector to 100 per cent from 74 per cent is likely to attract more global players in the growing Indian insurance market, Moody's Ratings said on Tuesday. Additionally, strong premium growth is expected to boost profitability of the sector. Currently, many foreign insurers are present in the country through joint ventures and could seek to increase their ownership stakes in their Indian affiliates following this change in regulation. "We view foreign investment as credit positive because it increases product innovation. The presence of foreign stakeholders also brings benefits in the areas of capital adequacy, financial flexibility and governance standards," Moody's Ratings said in a statement. Presenting Budget 2025-26, Finance Minister Nirmala Sitharaman proposed to raise the foreign investment limit to 100 per cent from 74 per cent in the insurance sector as part of new-generation financial sector reforms. Moreover, Moody's ..

100% FDI in Insurance: Foreign insurers may face distribution challenges

The opening up of the insurance industry to 100 per cent FDI comes at a time when the insurance regulator has been advocating "Insurance for All" by 2047

Insurance sector gets over 62% of $5.7 bn services sector FDI inflows in H1

The insurance sector was opened to foreign investors with an FDI limit of up to 26 per cent in 2000

Budget 2025: Insurers seek tax benefits, concessions for healthcare

Insurers are hopeful of a host of tax benefits, including concessions for the insurance and healthcare sectors, from the Union Budget 2025-26 to be unveiled by Finance Minister Nirmala Sitharaman on February 1. SBI General Insurance MD and CEO Naveen Chandra Jha said that as India advances toward financial inclusivity and universal healthcare, the upcoming Budget is expected to further strengthen the healthinsurance sector. Initiatives like Bima Sugam, designed to achieve the goal of 'Insurance for All' by 2047, are expected to receive regulatory and fiscal support to address the protection gap, he noted. "Additionally, the budget is likely to focus on expanding access in underserved regions through government-private partnerships, targeted subsidies, and advancements in digital infrastructure," Jha added. Bajaj Allianz Life MD and CEO Tarun Chugh said India's economic growth presents immense opportunities for the insurance sector to enhance financial resilience. "Aligning tax ...