BUSINESS
Acko Life CEO Sandip Goenka steps down
Goenka, who took charge on October 15, 2024, stepped down from the role this month, ending an 11-month tenure at the company
BUSINESS
Battle for India’s largest mid-sized bank intensifies
While the top 3 private lenders HDFC Bank, ICICI Bank, and Axis Bank have stayed steady for over a decade, most of the action in the pecking order has been in the mid-tier where banks have swapped ranks in a tight contest
BUSINESS
GST cut on insurance may trim medical inflation but won’t shift consumer mindset: Debashish Banerjee, Partner, Deloitte
Deloitte’s Debashish Banerjee says the bigger barrier to insurance penetration is trust, not pricing, and GST relief alone won’t change consumer behaviour
WORLD
H1B Visa cost hike could further dampen demand for overseas education loans
Industry experts say the sector has witnessed decline since Trump’s Presidency and demand for US education loans for the Fall 2025 academic year has plunged compared to a year ago
BUSINESS
Leading insurers see ITC impact from GST exemption as manageable, no major disruption
Experts are of the view that smaller, retail-focused insurers may face pressure sooner, while larger diversified players can cushion short-term margin shock
BUSINESS
Micro-covers turning 'push' insurance into 'pull' products, says Universal Sompo CEO
Regulators are also examining structural reforms such as monoline alongside composite licenses, which could reshape the way insurers operate in India, Mathur says
BUSINESS
'Insurers spend large portion of premium towards overheads like commissions leaving little for claims,' says AHPI’s Girdhar Gyani
He flags insurers’ unwillingness to cover advanced treatments, low incurred claim ratios that leave little for actual patient payouts, and delayed bill authorisations that prolong discharges.
COMPANIES
Shriram Wealth bets on 'democratising' wealth, to soon enter Rs 10 lakhs-Rs 2 crore segment
Shriram Wealth builds early traction with 400 families and 150 professionals across 11 cities within three months of launch, says MD and CEO Vikas Satija
BUSINESS
MC Analysis | Why introducing a regulator for healthcare could be difficult
Industry’s demand in favour of introducing a healthcare regulator has been gaining grounds recently but industry complexities could dampen the progress.
BUSINESS
GST rate cut buzz likely to have dampened insurance sales in August
Consumer deferrals on GST expectations, along with crop drag, high year-ago base, and seasonal headwinds, made August a rare weak month for insurers after three months of strong growth
BUSINESS
GST cut likely to boost individual protection, but revival will be gradual, say analysts
The effect on volumes, product mix and profitability will depend on how distribution channels adjust, how insurers reprice to offset the loss of input tax credits, and whether employers push individual policies over group benefits.
BUSINESS
GST on insurance: Policyholders have a lot to know post GST 2.0, here's why
Here’s everything policyholders need to know about the GST cut on future premiums and policy benefits
BUSINESS
Despite life insurers’ premium growth of 6% in August, policy sales drop 9%
Premium income for private insurers climbed 10.84 percent to Rs 65,410.42 crore during the period under review, up from Rs 59,013.14 crore last year. LIC, on the other hand, posted a modest 3.02 percent growth, collecting Rs 98,051.09 crore compared to Rs 95,180.63 crore a year ago
BUSINESS
Insurance forum likely to seek clarity on input tax credit and GST exemption from IRDAI, Centre
Sources say, insurers may be fearing the possibility of customer grievances if refunds are delayed or denied, while actuarial teams face the challenge of recalculating projections for policies spanning across the transition period
COMPANIES
Bima Sugam to launch digital insurance marketplace this year; governance structure still unclear
The initiative is supported by an authorised capital of Rs 500 crore and a paid-up capital of Rs 310 crore, with shareholding spread widely across life, general, and health insurers
BUSINESS
GST 2.0: Insurers approach govt to seek clarity on ITC treatment
Insurers, who had initially lobbied for GST to be charged at a 0% rate instead of an exemption, have sought clarification on whether insurance companies can claim input tax credit at an entity level
BUSINESS
GST cuts to boost demand but won’t trigger credit growth as banks remain cautious over tariffs
Despite the GST relief and the upcoming festive season, lenders are exercising caution, with analysts expecting credit growth to remain largely unchanged amid trade-related uncertainties.
BUSINESS
GST relief on health premiums may nudge insurers, companies to revisit India Inc’s employee benefits
With the GST Council continuing to levy 18 percent tax on group health policies, employers may scale back group coverage and shift toward allowances for individual insurance coverage plans.
BUSINESS
Insurers expect surge in small-ticket policies after GST cut, bet on higher adoption with affordable premiums
Lower entry costs will encourage first-time buyers to consider insurance policies both in life and general plans, and wider adoption and a large customer base is where we see real growth and potential, say industry leaders.
BUSINESS
Bima Sugam likely to go through another phase of adjustments as governance, funding issues linger
The platform, originally planned for launch in early 2024, is now expected to be delayed by 12-18 months from the original timeline, sources said
BUSINESS
Hospitals vs insurers: All you need to know about the ongoing tiff
What started as a localised issued between Bajaj Allianz and AHPI, has turned out to become a health insurance sector issue with more players latching on to problem
BUSINESS
Foreign reinsurers’ share expected to cross 50% in FY26 as domestic incumbents see market share drop
With overseas players rapidly expanding their footprint, domestic incumbents such as GIC Re maybe seeing their market share erode, due to regulatory changes, competitive pricing, and the burden of unprofitable crop insurance
BUSINESS
E20 rollout sparks insurance worries over mileage, engine damage; insurers say cover could be denied
Older E10 cars most at risk as insurers warn claims could be rejected over E20-related damage, industry executive says most existing fleet is E10-compliant
EXPLAINERS
How Aadhaar is emerging as a soft target for insurance fraud
Multiple police investigations conducted in several parts of the country over the past week have reportedly uncovered organised scam networks manipulating Aadhaar data to make bogus claims
