PB Fintech, which owns Policybazaar, plunged as much as 34%, while...
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India’s insurance sector sees resilient growth, but profitability, productivity remain key challenges: McKinsey
Between fiscal years 2017 and 2025, the number of in-force...
IRDAI’s Distribution Reforms: Commission on general insurance products proposed to be slashed from 30% to 20%, to 12.5% for life over 5 yrs
Greater transparency would be required from insurers and large...
Insurer can’t reject claim if alcohol habit disclosed before policy purchase: Consumer commission
The commission, however, pointed out that the medical examination form submitted on May 20, 2021, before the policy issuance, clearly stated the insured consumed "whisky of 90 ml twice in a month since 15 years". Further, relying on Supreme Court orders that termed...
40 high-hazard glacial lakes identified in Sikkim, 16 at highest risk of outburst
The state is working towards what could be the country’s first dedicated GLOF Risk Mitigation Protocol, aimed at creating a standardised scientific framework for assessing, preparing for and mitigating glacial flood risks. GANGTOK: The eastern Himalayan state of...
AI Phuket flight incident: AAIB preliminary report reveals hydraulic failure, Pilot’s positive drug screening
"In view of a non-negative result for psychoactive substances for one of the flight crew, it is recommended that DGCA may take appropriate actions as deemed fit to prevent abuse of psychoactive substances," AAIB said in its interim safety recommendation. New Delhi:...
Home secy Govind Mohan reviews preparedness of Himalayan states/UT for GLOF and snow avalanches
Govind Mohan,Union Home Secretary The meeting concluded with directions for continued inter-agency coordination, regular sharing of risk information and strengthening of early warning and response mechanisms to minimise loss of life and property in vulnerable...
ICICI Bank acquires 2% stake from joint venture partner of its life insurance arm for Rs 1,470 cr
the bank's shareholding in ICICI Life stands at approximately 52.8 per cent. New Delhi: ICICI Bank on Wednesday said it has raised its stake in its life insurance venture by buying a 2 per cent stake from its joint venture partner for a sum of Rs 1,470 crore. The bank...
Lohiya asks PSGICs to strengthen their performance monitoring through standardised KPIs and quaterly review
Sanjay Lohiya, secretary,DFS advised the PSGICs to strengthen their focus on profitable lines of business and adopt suitable measures to bring down the Incurred Claim Ratio (ICR). New Delhi:Sanjay Lohiya, secretary,Department of Financial Services (DFS), Ministry of...
IFFCO-TOKIO General appoints Tatsuya Fujimoto as MD & CEO
Tatsuya Fujimoto,Managing Director and CEO Designate, IFFCO-TOKIO General Insurance Company Prior to this, he was director (Operations) at the general insurance company and replaced Subrata Mondal as MD and CEO. New Delhi: In a change of guard, IFFCO-TOKIO General...
Public Insurance Registry to strengthen consumer protection, market efficiency, insurance coverage and reforms, says IRDAI
`Envisaged not merely as a data repository, but as an innovation platform and a strategic investment in national economic infrastructure, the PIR will strengthen consumer protection, market efficiency, insurance coverage and supporting the next generation of insurance...
PM Modi calls India’s 7.8% GDP growth ‘herculean feat’ amid global uncertainties
"India's exemplary GDP growth of 7.8 per cent during Q1 of FY 2026-27 is a herculean feat.The growth came amid oil price shocks and supply chain issues, at a time when the global economy continues to face uncertainty,'' said Prime Minister Narendra Modi New Delhi:...
Govt asks PSU general insurers to borrow `EASE’ from banking counterparts to fight out competition, to be finalised on Sep 2
Debasish Prusty, additional secretary, DFS, on Sept 27, convened a meeting with executive directors and general managers of the six PSU insurers to deliberate on the proposed implementation of the framework.The discussions are to be followed by a higher-level meeting...