India's regulator, the Insurance Regulatory and Development Authority of India has appointed Mr Ajay Seth as chairman, after a five-month vacancy, according to news platform The Economic Times. His appointment was cleared by the government on 25 July 2025 for a three-year term, or until he turns 65, the news site said.
UK-based flood science specialist JBA Risk Management has launched a new updated version of its ground-breaking probabilistic India crop catastrophe model along with a range of additional support services for insurers and reinsurers covering the India crop schemes.
The Goods and Services Tax (GST) on health and insurance products for individuals has been cut to zero from the existing 18%. The government and the insurance industry hopes that this improved affordability of essential insurance covers will encourage more people to purchase health insurance policies.
Canara HSBC Life Insurance, in partnership with Policybazaar, has launched the EZ Pension Plan, an individual-linked pension product aimed at supporting retirement planning.
India is likely to either totally exempt or reduce the 18% Goods and Services Tax (GST) currently levied on life and health insurance premiums. This move, the insurance industry feels, will hopefully make insurance more affordable for policyholders.
Lockton India has appointed Girish Mantri as its chief financial officer.
The proposed raising of Foreign Direct Investment (FDI) limit in Indian insurance companies to 100% would bring more players into the market and generate employment opportunities according to Indian finance minister Ms Nirmala Sitharaman.
SBI Life has launched its latest protection offering - SBI Life - Smart Shield Plus, an individual, non-linked, non-participating, pure risk life insurance product designed to address the evolving protection needs of today's consumers.
India's FinTech platform Angel One and Singapore-based InsurTech LivWell have announced the setting up of a digital-first life insurance JV in India, subject to regulatory approvals.
Lockton India has appointed Darshan Parikh as senior director, corporate solutions group.