The Confederation of General Insurance Agents' Associations of India, an umbrella body of non-life insurance agents, has called on the government to slash the GST (Goods & Services Tax) rate on individual health insurance policies to 5% from the current 18% to encourage people to buy these policies.
Zurich Insurance Company (Zurich), a leading global multi-line insurer, has completed the acquisition of a majority stake in Kotak Mahindra General Insurance Company (Kotak General Insurance) from Kotak Mahindra Bank (Kotak), following the receipt of all necessary regulatory approvals.
HelpAge India, a charitable organisation catering to the elderly, has issued a report highlighting the lack of age preparedness, especially among the 'missing middle', who do not fall under most government schemes and have meagre savings for their later years.
The IRDAI has approved the withdrawal of Paytm General Insurance Limited's (PGIL) application for a general insurance licence, according to Indian multinational technology company One 97 Communications, owner of Paytm, in a stock exchange filing on 12 June 2024.
State-controlled Life Insurance Corporation (LIC), India's biggest life insurer, has clarified that it currently does not have any official proposal to enter the health insurance sector.
The IRDAI has issued a Master Circular on Life Insurance business in a move towards making life insurance simple, easy to understand and enhancing transparency for a well-informed decision by prospects/policyholders.
The IRDAI has issued a comprehensive master circular on general insurance business as part of reforms in the non-life sector, ushering a new era of measures for simplified and customer-centric insurance solutions towards seamless customer experience and ease of operations for insurers in a calibrated manner.
An open architecture for insurance agents, the review of rules covering investment distribution and the development of natural disaster insurance are among issues that the insurance industry in India wants the new federal government to address.
Shriram Life Insurance has declared a bonus of INR2.01 billion (US$24 million), up 35% from INR1.49 billion year-on-year (YoY) on the back of robust growth in premium income.
Bajaj Allianz Life has unveiled a compelling campaign aimed at addressing the fundamental issue of underinsurance.