Currently, the Centre holds 45.48 per cent while holds 49.24 per...
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Four Nations Insurance Alliance: Tackling rising risks of economic resilience
Insurance bodies representing Australia, the United Kingdom, Canada...
Payment Habits: 3 in 4 urban Indians use their payment app for more than payments
More than half (52%) of consumers, who were surveyed, say they...
Anup Bagchi appointed as new MD&CEO of HDFC Bank for 3 yrs
Anup Bagchi, MD & CEO, ICICI Prudential Life Since June 2023, Bagchi has been serving as MD & CEO of ICICI Prudential Life Insurance leading one of India's largest private life insurers, which is publicly listed. Mumbai:Anup Bagchi, MD & CEO, ICICI...
Indian insurance and pension segments record fastest growth, up 11.4%, ahead of deposits in 2025: Allianz Report
In India, insurance and pensions grew fastest, up 11.4%, ahead of deposits (9.8%) and securities (6.1%). Nevertheless, like in many emerging economies, deposits still have the highest share in private households’ portfolios, at 40.2%, followed by securities with 32.7%...
South Korean banks and insurers hunt for overseas deals
A rapidly aging population and a mature domestic market are pushing Korean financial groups to head out. Backed by strong balance sheets, they are scouring investments ranging from US insurance and retirement businesses to banks and consumer-finance companies across...
IRDAI’s proposed distribution reforms will hurt policyholders, cost jobs and slow insurance growth, says IBAI
The association urges the IRDAI to preserve the 2023 framework, publish an impact assessment and target genuine mis-selling instead of imposing blanket commission caps Mumbai: The Insurance Brokers Association of India (IBAI), the official apex body of India's 798...
Competition Commission okays BNP Paribas-IndiaFirst Life Insurance deal
After the completion of the transaction, IndiaFirst Life's shareholding will comprise Bank of Baroda holding 65 per cent, BNP Paribas Cardif having a 26 per cent stake and Union Bank of India holding 9 per cent equity. New Delhi: Fair trade regulator CCI has approved...
IRDAI weighs Jan 1 or Apr 1, 2027 rollout of new distribution reforms & EoM norms; Bima Sugam likely by November: Seth
Ajay Seth, Chairman, IRDAI Defending the regulator’s sweeping proposals to recalibrate insurance distribution economics, Seth said the proposed framework should ultimately benefit policyholders by creating greater efficiencies and potentially lowering premiums.The...
Dinesh Pant resigns as MD of LIC, to join as member, Actuary,IRDAI soon
With Pant's departure, LIC has now vacancies of two managing directors.Going by the rules, for one of the MD posts, for the first time, private sector candidates can apply. New Delhi: The government has accepted the resignation of Dinesh Pant, 59, managing director,...
Insurance and bank stocks erase $14 billion on IRDAI’s fee cap plan
PB Fintech, which owns Policybazaar, plunged as much as 34%, while Turtlemint dropped 20%. Shares of HDFC Life, Bajaj Finserv, the holding company for Bajaj Life and Bajaj General Insurance and Max Financial Services, the holding company of Axis Max Life Insurance...
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 individual life insurance policies has remained essentially flat, at around 330 million,” which further indicates insurance has yet to fully benefit from the country’s wider financial inclusion gains. The...
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 distribution entities, which would have to disclose commission policies and structures in a simple and accessible manner. Specified commercial insurance policies would also carry commission disclosures,...