Officials are discussing a proposal to increase the foreign direct investment (FDI) limit for insurance to 100%, from the current 74%, a move which has the backing of the Insurance Regulatory and Development Authority (IRDAI).
SBI Life Insurance, one of India's most trusted life insurance companies, has partnered with the Paralympic Committee of India (PCI) as a Gold Sponsor for the Paris 2024 Paralympic Games starting on 28th August 2024 in Paris.
Government-owned general insurer National Insurance Company (NIC) is aiming to return to profit in the current fiscal year ending 31 March 2025 (FY2025), after incurring losses for nearly a decade, one of the company's directors said.
Less than 10% of micro, small, and medium enterprises (MSMEs ) in India have adequate insurance coverage, according to a report released by the National Institute for Micro, Small and Medium Enterprises (NI-MSME).
The Corporate Affairs Ministry (MCA) has gazetted the much-awaited new accounting standard Ind AS 117 on 'Insurance Contracts', taking Indian accounting standards for insurers closer to global standards.
Health insurance claims for seasonal illnesses have risen by about 150% in recent years, according to a study of reported claims by the digital insurance platform Policybazaar.
Insurance giant Life Insurance Corporation (LIC) is looking to acquire a majority stake in a health insurance company during the current financial year ending 31 March 2025, LIC managing director and CEO Siddhartha Mohanty said.
Life Insurance Corporation of India (LIC) has launched a new plan called LIC's Digi Term for online customers and LIC's Yuva for offline customers. It is a non-par, non-linked, life, individual, pure-risk plan that provides financial protection to the insured's family in case of his/ her unfortunate death during the policy term.
More individuals and companies are seeking disability and income loss insurance coverage, leading to higher penetration rates, according to Mr Bhaskar Nerurkar, head of the Health Administration Team at Bajaj Allianz General Insurance.
Finance Minister Nirmala Sitharaman has told lawmakers that they need to propose to their state governments remove the 18% GST levied currently levied on life and health insurance premiums.