Insurance

Irdai also plans to encourage diversification across multiple distribution channels to ensure balanced growth across the industry

Adjustments to the new surrender regulations, uncertainties surrounding the Insurance Amendments Bill, and potential direct tax reforms in the upcoming Budget may pose short-term challenge

State Bank of India chairman C S Setty on Wednesday called for active participation by mutual funds and pension funds in the corporate bond market. "I am sure that a lot of corporates would like to issue bonds. I believe that if household/corporate savings are finding ways into these three investment categories, it is important that insurance and mutual funds also actively participate in the corporate bond market. I don't see that kind of participation actively coming in," Setty said. He said the pension/ mutual funds are making investments in AAA-rated bonds and this is not going to help deepen the corporate bond market. Setty said the corporate bond market has to come into financing of infrastructure as well as balance sheet funding of corporates. He said the investments are happening not only in equity but also in mutual funds, pension funds and insurance funds. "We have been debating on depth of the corporate bond market for many years. We could not achieve that depth," Setty

According to data from the General Insurance Council, general insurers collected Rs 21,671.43 crore in premiums in November, reflecting a 4 per cent YoY increase

The business correspondents' representative body has asked IRDAI to allow them to sell insurance products, particularly weather-indexed schemes to provide a safety net for rural buyers

Till October of the plan year 2024-25, PSBs have achieved only 40 per cent of their total enrolment target of 6.4 crore for PMSBY

Insurance companies have made a request to the Reserve Bank of India, which has then discussed the matter with the Finance Ministry of the government

HDFC Life and SBI Life deny knowledge of regulator discussions

The insurance leaders discussed the future of insurance sector in India

The panel discuss the 'many challenges' they face in general insurance sector and gave their views on the road ahead for the industry

The leaders of life insurance companies discussed increasing coverage of insurance in India

Bima Sugam facilitates easy access to insurance for consumers and enhances distribution opportunities, said Panda

Insurers and experts are optimistic about revival in sales and premium growth, and they believe that it could also give a nudge to the insurtech sector in the country

A single licence for insurers and higher FDI limit could boost investments and improve insurance penetration in the country

During the two-day Bima Manthan held in Hyderabad, insurance companies were informed of the revised capital requirement for Bima Sugam, amounting to Rs 500 crore over 4-5 years

Central Bank of India on Friday said it has got approval from the Reserve Bank to enter the insurance business through a joint venture with Generali group under FGIICL and FGILICL. In a filing to stock exchanges, the state-owned bank said the RBI accorded the approval vide a letter dated November 21, 2024. "...we would like to inform that the Reserve Bank of India (RBI) vide its letter dated 21st November 2024 has approved the bank's entry in the insurance business through a joint venture with Generali group under FGIICL and FGILICL, subject to continuous compliance of conditions stipulated by it and approval of IRDAI, the sectoral regulator," the filing said. In October, the Competition Commission of India (CCI) had cleared the Central Bank of India's proposed acquisition of stakes in Future Generali India Insurance Company Ltd (FGIICL) and Future Generali India Life Insurance Company Ltd (FGILICL). FGIICL provides personal insurance, commercial insurance, social, and rural ...

India now has over 150 insurtechs generating revenue exceeding $750 million, with 10 unicorns or soonicorns and more than 45 minicorns

The controversy erupted after Chief Minister M K Stalin criticised LIC, calling it a "propaganda tool for Hindi imposition"

Bima Stack makes purchasing insurance simpler, speeds up claims and strengthens access to products. It gives people control over their data

The gross written premium of Indian insurance has exceeded $130 billion and grown at a CAGR of 11 percent, in the three-year period FY20-23, outpacing its Asian counterparts