Irdai

Irdai sets up working groups to align risk-based capital regime with Ind AS

The regulator has given two working groups one month to draft RBC regulations and an approach paper, aiming to align capital calculations with Ind AS and reduce compliance costs

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.

Irdai introduces four-layer motor insurance structure from December 15

Motor insurance will have four separate covers, including third-party liability, cover for passengers, personal accident cover and protection against damage to the insured vehicle

Irdai cuts share transfer approval fee by 80% to ₹10 lakh for insurers

Insurance regulator Irdai has reduced the share-transfer approval fee from ₹50 lakh to ₹10 lakh and clarified compliance requirements for insurer IPOs, ESOPs and amalgamations

PB Fintech slumps 7% as ad spends bite in Q2; analysts say worst priced in

PB Fintech reported a strong Q2 FY27 with revenue up 35 per cent year-on-year (YoY) at ₹2,178 crore and profit after tax (PAT) up 43 per cent YoY at ₹192 crore.

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

How Indian banks are planning to offset Irdai's insurance commission cuts

Irdai has proposed product- and channel-specific caps on insurance commissions, lower expense limits for insurers; banks are exploring mutual funds and forex to offset potential income losses

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

Proposed Irdai norms need a longer glide path, say life insurance leaders

Business Standard BFSI Insight Summit: Life insurance industry leaders called for phased transition to proposed distribution reforms, saying insurers need time to adjust costs while expanding coverage

Proposed Irdai norms need a longer glide path say life insurance leaders

Life insurance companies have called for a longer transition period to implement the proposed distribution reforms, saying the changes could lower costs and improve customer outcomes

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

Irdai extends feedback window for proposed insurance distribution reforms

The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors

Banks weigh income impact of Irdai's proposed insurance commission caps

Banks are exploring higher policy sales and changes in product mix to offset potential fee income losses, while RBL Bank estimates a 50-60% decline in bancassurance income

Irdai's proposed distribution reforms aim for orderly transition: Ajay Seth

Irdai chief Ajay Seth says distribution reforms aim to improve efficiency without disrupting existing business models; Public Insurance Registry beta is due by January 2028

Sebi writes to Irdai to include insurance data in consolidated statement

Sebi seeks to include insurance and bank deposit details in consolidated account statements to give investors a comprehensive view of their financial assets

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

A look at insurance sector reforms

What electronic trading exchanges and central depositories did for capital markets in 1996, and credit bureaus did retail banking in 2000s, Bima Sugam and PIR are set to do for the insurance turf now

10% health insurance co-pay could push patients' bill burden to 15-19%

Insurers want a mandatory 10 per cent co-pay on retail health policies for lower premiums, but with non-payable costs, policyholders could end up paying 15-19 per cent of hospital bills.