Private Insurers

AIIEA opposes govt's move to open top PSU posts to private sector

AIIEA says allowing private executives to head PSU insurers undermines nationalisation and could demoralise staff, while experts see scope for merit-based reforms

Climate-linked insurance scheme: Why govt is exploring it and what's ahead

The scheme could help someone in Uttarakhand or Punjab whose house was washed away in the floods. Let's unfold the climate-linked insurance scheme and understand how it can help people

Top four life insurance companies covered 14 mn fewer lives in FY25

Data from insurers' annual reports show ICICI Prudential Life Insurance covered 91.74 million lives in FY25, down from 96.61 million in FY24

Major private insurers seek time until 2027 for public listing plans

Irdai has proposed implementing Indian Accounting Standards (Ind AS) 117 - the Indian equivalent of IFRS 17 - from April 1, 2026

Non-life insurers clocked 2.7% growth in premiums in July, shows data

General insurers report flat premiums in July while standalone health insurers see modest growth; overall momentum slows amid accounting changes, weak motor segment

India's non-life insurance premiums rise 5.2% in June 2025: CareEdge

India's non-life insurance industry registered a 5.2 per cent increase year-on-year in premiums to Rs 23,422.5 crore in June 2025, according to a report released by CareEdge Ratings on Wednesday. This was lower than the 8.4 per cent growth recorded in June 2024. "The transition to the 1/n rule has impacted the industry's performance, resulting in a slowdown in health insurance growth to single digits and muted growth in the passenger vehicle (PV) segment, which was partially offset by renewals in the commercial lines," the report noted. Despite the moderation in premium growth, non-life insurance premiums crossed the Rs 3-lakh crore mark in FY25, driven by supportive regulations, rising insurtech adoption, accelerating digitalisation, and an expanding middle class, the report said. Moreover, the government's Bima Trinity push is poised to accelerate growth in the non-life insurance sector. Further, standalone health insurers are expected to maintain their dominance in the retail ..

Better policy mix drives the growth for the private life insurers

However, private insurers reported premium growth, indicating a mix of higher-value policies

New India Assurance to launch parametric insurance for climate risks: CMD

State-owned New India Assurance will this month launch a parametric insurance product, which will provide a financial safety net to its retail and business customers against climate risks, said chairman and managing director Girija Subramanian on Tuesday. Parametric insurance refers to losses arising out of calamities including heavy rainfall, high speed wind and flood/drought. Unlike traditional insurance policies, the payout in case of parametric insurance products depends upon triggering of pre-defined parameters, thus allowing for quicker claim settlement. "Parametric insurance is a use and file product, which is allowed by the regulator IRDAI. We have got it already registered on IRDAI so the product is ready and can be used across both retail and business groups. We are ready with that in a big way," Subramanian told PTI. Asked about the timeline for launch of the product, she said: "We will be launching it by the end of this month." Subramanian said the parametric insurance

We should be third-largest listed pvt insurer in 3 yrs: Prashant Tripathy

Axis Max Life Insurance managing director and chief executive officer talks about the company's strategy for 2025-26

India approves three Russian insurers for marine cover till February 2026

India is the top buyer of Russian seaborne oil after China since Western nations shunned purchases and imposed sanctions on Moscow for its military action in Ukraine

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

Life insurance Dec new biz premium falls 21.7% to Rs 30,218.71 crore

LIC's premium fell 41.15 per cent Y-o-Y to Rs 13,523.87 crore, while private insurers reported 7 per cent Y-o-Y growth in NBP to Rs 16,694.85 crore

Life insurers' new biz premium up 14% Y-o-Y in Sept; rises 19% in H1 FY25

LIC's new business premium grew by 12.4 per cent Y-o-Y to Rs 203,69.26 cr

Pvt insurers ceded ground in rural areas in FY24; Tier-II,-III saw growth

LIC share of rural policies more than doubled; ULIPs witnessed increased demand in urban areas

Insurers eye windfall from proposed satellite-based toll collection system

Lack of regulatory clarity complicates matters on third-party data-sharing

New surrender value norms: Life insurers likely to alter product mix

To push Non-par policy sales till Sep 30

Irdai proposes changes in listing requirements of insurance companies

The insurance regulator has proposed the merger of seven different regulations

Irdai proposes changes in listing requirements of insurance companies

The insurance regulator has proposed the merger of seven different regulations

Private general insurers expand market share to 53.58% in H1FY24

Private general insurers increased their combined market share to 53.58 per cent in gross direct premium underwritten in the first half of the current financial year from 50.81 per cent in the year-ago period. As many as 31 insurers from the non-life industry had underwritten gross direct premiums of Rs 1.43 lakh crore in the first half of the current financial year, according to data on segment-wise gross direct premiums up to September 2023 released by Insurance Regulatory and Development Authority of India (Irdai). Private insurers registered an annual increase of 14.86 per cent in gross direct premiums. The non-life industry had underwritten gross direct premium (GDP) of Rs 1,25,194 crore in the April-September period of 2022-23. "Private general insurers have a combined market share of 53.58 per cent YTD September 2023 with a growth rate of 21.13 per cent as compared to a market share of 50.81 per cent YTD September 2022 with a growth rate of 21.33 per cent," Irdai said. PSU