Insurance Companies

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.

Why IRDAI wants insurers to appoint an in-house ombudsman and what it means for policyholders

The insurance regulator has released a draft framework to mandate internal ombudsmen within insurance companies, and is expected to finalise the regulations by Q3FY26. Moneycontrol explains everything you need to know.

Q1 FY26 life insurance preview: Product mix reset, digital shift among key trends to watch

HDFC Life, ICICI Prudential Life to report on July 15. The companies are likely to begin reconfiguring their product mix and offer more traditional participating and non-participating savings products.

Drivers' insurance on ride-hailing platforms falls short in implementation

Despite the legal requirement, many drivers remain unaware of such coverage, and even those who are aware often lack access to formal policy documents or clear instructions on how to make a claim, say experts.

Block deal in Niva Bupa Health Insurance: PE Firm True North and others planning to raise up to $126 mn

The Niva Bupa Health Insurance stock has risen by 23.4 per cent in the last six months. British insurer Bupa is the promoter of the firm with 55.98 per cent stake and True North via Fettle Tone LLP holds 17.47 per cent stake

DFS Secretary denies plans to merge state-owned insurers

Last week, some media reports had said that the government is considering the merger of four state-owned general insurance companies into a single entity. These companies are New India Assurance, National Insurance, Oriental Insurance and United India Insurance.

General insurance poised for 13% growth in FY26 despite under-penetration woes

This projected uptick comes as the industry grapples with persistent under penetration challenges

Insurers reluctant to launch IPOs amid RBC implementation and stake dilution concerns

According to sources, shareholders of unlisted insurance companies do not want to go public till they see a valid case for valuations to increase or the need for capital raise to be compelling enough.

Indian insurers seek zero-coupon bonds to manage long-term risks

Zero-coupon bonds could help insurance companies better manage their long-term liabilities, as they step up offerings of guaranteed savings products

Warren Buffett may target Japan's bank and insurance shares, analysts say

The renewed presence of Buffett, known as the Oracle of Omaha, may provide a cheer for Japanese stocks as his endorsement to the five major trading houses helped propel the Nikkei 225 Stock Average to a record high earlier this year.

FinMin asks PSU insurers to ensure swift claim settlement in flood-hit Andhra, Telangana

The insurance companies have been also instructed to widely advertise the names and contact numbers of nodal officers to whom the policyholders can contact.

GST authorities slap Rs 2,000-cr notice on 20 general insurers working in SEZ: Report

While insurance services provided directly to SEZ units are exempt from GST, the investigation found that insurers extended these exemptions to group medical insurance coverage for SEZ employees and their families.

No proposal to merge public sector general insurance companies: Govt

In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said Rs 17,450 crore was infused during 2019-20 to 2021-22 in three PSU general insurance companies namely Oriental Insurance, National Insurance and United India Insurance to focus on their growth.

Finmin asks state-owned general insurance companies to focus on profitable businesses

"We have been monitoring performance of state-owned general insurance companies and as a result they have started looking up. So, we will watch their performance this year," Financial Services Secretary Vivek Joshi told PTI.

Govt plans to delink state and central premium contributions from crop insurance claims

The Pradhan Mantri Fasal Bima Yojana is set for an overhaul with the Centre asking the insurance companies to issue the policy to farmers regardless of the delay in contribution made by the states.

Exclusive: I-T department alleges evasion by insurers, likely to send Rs 25,000 cr tax notices

The I-T department says higher commission was paid to agents without any additional service being provided. This could be seen as masking higher income as expenditure through accounting.

I-T unearths Rs 30,000-crore tax evasion by insurance companies, intermediaries

To recover the dues, the I-T department is in the process of issuing tax demand notices to these entities. Additionally, the total amount owed may escalate with the imposition of interest and penalties in due course.

I-T department uncovers evasion of Rs 15,000 crore by insurance companies

The commission paid by insurers to agents came under scanner after the GST authorities had informed the regulator in 2022 about these alleged shell companies being floated to route commissions to agents which is above the cap set by it

Bajaj Allianz, Sun Life, HDFC Life, and others found to evade Rs 2,350 crore GST

The 15 companies under the scanner include both life and general insurance to whom show cause notices are being served.

North India floods: IRDAI asks insurance companies to fast track claims

Insurers will have to appoint nodal claim officers, set up district-level claim desks and minimise documentation requirements

Cyclone Biparjoy: FM Sitharaman meets top officials of banks, insurance firms to review preparedness

The cyclone is expected to make landfall near Jakhau port on June 15.

Irdai asks insurance companies to lay down social media guidelines for employees

The guidelines are applicable to all insurers, including foreign re-insurance branches (FRBs) and insurance intermediaries regulated by the Irdai.

GST authorities to show-cause more private insurance companies

The GST authorities have booked cases for recovery of input tax credit on the supplies which are not there. To garner more business, the companies have been giving higher commission to agents. Some recoveries have also been made.

Total exposure of 5 state-run general insurers in Adani group at Rs 347 cr: MoS Finance

In reply to a question on details of money lent by banks and financial institutions to the Adani group, the Minister of State for Finance Bhagwat Karad said in a written reply to the Lok Sabha that the RBI Act prohibits disclosure of credit information submitted by a bank.

MC Explains | What is borrowing and lending in G-Secs?

The RBI’s proposed move will benefit entities such as insurance companies and pension funds, which are not allowed to engage in such activities currently.