Tata AIA Life Insurance (Tata AIA) has launched its offshore branch at Gujarat International Finance Tec-City (GIFT City), India's first International Financial Services Centre (IFSC). It allows the company to offer US Dollar-denominated life insurance products to Non-Resident Indians (NRIs) through its dedicated website.
The central government is planning to increase the sum insured under two of its flagship insurance schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).
British insurer Aviva has said that its India unit is "actively engaging" with local authorities in connection with alleged tax evasion practices, reported Reuters.
The Pradhan Mantri Jan Dhan Yojana (PMJDY), which on 28 August 2024 marked the 10th anniversary of its establishment, has been hailed as a great success in boosting financial inclusion.
InsurancePadosi, an InsurTech platform that helps users understand their health insurance needs, has raised $500,000 in a pre-seed funding round.
State-owned LIC, India's biggest life insurer, is set to enter the market for interest-rate derivatives, specifically, forward rate agreements (FRAs), reported Reuters.
Several insurance industry players attended the "Insurance for All" Vision Meet held last week to craft a foundational framework that would guide the vision of achieving "Insurance for All" by 2047.
Mumbai-headquartered Central Bank of India (CBI), a state-owned bank, is the successful bidder for the acquisition of a stake in the life and general insurance units of debt-ridden Future Enterprises Ltd (FEL).
The share of life insurance policies sold in rural areas by top private insurers fell in the financial year ended on 31 March 2024 (FY24), compared to previous financial year.
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).