However, in both the cases, the life insurer will file an appeal...
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PSU banks and insurers playing a central role in advancing national priorities: Govt
(Lto R) R Doraiswamy, CEO &MD, LIC, CS Shetty,Chairman, SBI and...
LIC keen on buying stakes in a suitable health insurance company,says CEO Doraiswamy
``We are evaluating various options available in the market, but we...
Life Insurance: Current offerings do not align with financial priorities of next-gen customers
The life insurance industry is facing a critical challenge as its next generation of customers redefines their major life milestones The World Life Insurance Report 2026, conducted jointly by the Capgemini Research Institute and LIMRA, shows that even though 68% of...
Insurance Amendment Bill likely to be introduced in Winter session FM Sitharaman
Nirmala Sitharaman,Finance Minister The finance ministry has proposed to amend various provisions of the Insurance Act, 1938, including raising foreign direct investment (FDI) in the insurance sector to 100 per cent, a reduction in paid-up capital, and a provision for...
New IRDAI chief Seth to meet insurance CEOs on Sept 17
Ajay Seth, chairman, IRDAI Though, basically it will be a welcome meeting for the insurers, Seth will use the forum to discuss a few things including the action plan by the insurers to implement the new goods and services tax (GST) plans announced by the government on...
GST exemption may hit insurers in short term, but long-term gains likely: Experts
"For term insurance, GST exemption could result in notable cost reduction, making them more affordable. On the other hand, insurers may lose eligibility for input tax credits. For ULIPs, these products contain a significant investment component; hence, the direct...
Insurance stocks in limelight as life and health insurance exempt from GST
Shares of Star Health and Allied Insurance Company skyrocketed 9.35 per cent, Niva Bupa Health Insurance Company zoomed 9 per cent, ICICI Prudential Life Insurance Company jumped 5.70 per cent, ICICI Lombard General Insurance Company rallied 5 per cent, Life Insurance...
New India to pass on maximum benefit of 18% GST exemption to retail Health Insurance customers
``As India’s most trusted insurance partner, New India Assurance takes pride in passing on maximum benefit accruing out of this exemption to our valued customers. NIA commits to put in all possible efforts to make Viksit Bharat 2047 a reality,...
18% GST on re/insurance premiums of retail Life and Health covers removed from Sept 22, insurers have to pass on benefits to customers: Sitharaman
``We have decided to remove 18 per cent GST from all individual Life and Health Insurance to make them affordable for common man and widen country' insurance coverage. The exemption on Health Insurance will also cover family floater. The reinsurance premium of these...
Tamil Nadu among India’s most insurance-aware markets: IMRB Kantar
Key insights revealed by a study initiated by Insurance Awareness Committee (IAC-Life) in collaboration with IMRB Kantar • 100% awareness of life insurance among respondents • 70% of non-policyholders intend to invest in life insurance within the next 3–6 months • 63%...
GST Council meet on rate reform begins; TDP supports, opposition bloc seeks revenue protection
The government had proposed completely exempting life and health insurance premium from Goods and Services Tax (GST), Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary had said earlier. Health and term insurance premiums may become cheaper if...
Ajay Seth takes over as new IRDAI chairman
Ajay Seth, chairman, IRDAI Analysts expect Seth to hit the ground running with a massive growth agenda and Insurance for all by 2047, for the Indian insurance sector that generated over Rs 11 trillion premium in FY 25. Hyderabad: Former finance secretary Ajay Seth,...