The Indian parliament's Standing Committee on Health and Family Welfare has recommended increasing the insurance coverage under the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) from INR500,000 to INR1,000,000 per family per year.
The Indian government plans to establish a cooperative life insurance company as part of its efforts to expand the cooperative sector into financial services and strengthen the broader cooperative ecosystem.
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a certificate of registration to Prudential HCL Health Insurance, permitting the company to write health cover nationally.
Reserve Bank of India (RBI) has said that rising surrenders and withdrawals of life insurance policies in financial year 2025-26 indicates policyholder dissatisfaction.
QBE Insurance Group has completed the acquisition of full ownership of Raheja QBE General Insurance Company following regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI).
SBI Life has signed a MOU with the Indian Institute of Technology, Mumbai to establish a joint research and innovation centre dedicated to building India's own deep-technology defences for the insurance sector.
MAPFRE Re has appointed Mr Chaturbhuj Bansal as Head of its India branch, subject to regulatory approval.
Financial awareness is increasing among the young Indians, however, it is not translating into protection or increased insurance coverage, according to a new study by Bajaj Capital Insurance Broking.
Investing just 2% of capital expenditure (CapEx) in climate resilience measures across India's planned renewable energy projects could reduce potential climate-related losses by nearly half, from $55bn to $27bn, according to a report by Zurich Kotak General Insurance and Zurich Resilience Solutions.
The Indian insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), has set up a working group on adoption, governance, and oversight of AI technologies in the Indian insurance industry.