Insurance News

Banca cap may impact banks' net profit by 1-2%, says IIFL Securities

It could shave off 15-30% of banks' fee income that they earn by selling insurance

Insurance premium financing expected to see healthy growth of 25% annually

In premium financing, a borrower secures a loan from a third-party provider to cover the policy's premiums

Life insurance firms adjust term premiums by 5-10% ahead of FY25 end

HDFC Life Insurance - the second largest life insurer in the country - has increased their term life insurance premiums by about 5 per cent for Rs 50 lakhs and above, as per distributors

Irdai's move to limit banca biz may stifle insurance sector growth: Emkay

Last week, reports suggested that Irdai is likely to bring in regulations to limit the overdependence of life insurance companies on their parent banks for business sources through bank channels

Max Life rebrands to Axis Max Life Insurance after regulatory approval

Earlier this year, Axis Bank's board of directors approved the proposal to acquire Max Life shares

Life insurers adjust term premiums ahead of business end of financial year

While some companies are increasing rates, others are slashing them, and still others have made no change; GST changes on premium taxation may change outlook

Irdai may limit insurance companies' overdependence on parent banks

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

Irdai to introduce norms for more qualified insurance sales personnel

Tripathy said that despite the rapid growth in the insurance industry in recent years, there is a gap in education and upskilling of the industry's employees

Star Health & Allied Insurance eyes 18% GWP growth this financial year

Star Health reported an 11 per cent drop in profit after tax (PAT) to Rs 111 crore during the quarter ended September 30, down from Rs 125 crore in the corresponding quarter last year

PM Narendra Modi launches LIC's 'Bima Sakhi Yojana' to empower women

LIC's Bima Sakhi Yojana to enrol 100,000 women in 12 months

Non-life insurers' premiums increase 4.4% in November, shows data

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

Life insurance premiums in November slip 4.5% to Rs 25,306.56 crore

According to a Nuvama report, private sector growth picked up in November 2024 as the industry adapted to the changes in surrender value regulations

Irdai issues show cause notice to Star Health for violating norms

The company must provide a reply within 21 days from the date of receipt of the notice, along with the supporting documents

PSBs lag behind on govt insurance enrolment targets, shows data

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

IPRU Edge drives ICICI Prudential's agent productivity by 37% in H1FY25

Nearly 61 per cent of the life insurer's top-tier advisors are now active users of the stack

Bank-backed private life insurers' scrips tumble on banca limit reports

HDFC Life and SBI Life deny knowledge of regulator discussions

Insurance Amendment Act to boost growth, promote inclusion: Insurance CEOs

The insurance leaders discussed the future of insurance sector in India

Insurance in India has made significant strides: General insurance CEOs

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

Regulator nudging us to up our game on cybersecurity: Life insurance CEOs

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

Bima Sugam is a game-changer, says Irdai chairman Debasish Panda

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