Indian government's e-marketplace facilitated insurance of more than 13m individuals covering health, life and personal accident insurance policies in the financial year 2024-25.
AIG chairman and CEO Peter Zaffino has pointed to the significant potential of India's rapidly expanding insurance market as a reason for optimism.
Indians in the age group 25-35 are most likely to opt for and use mental health insurance benefits according to a recent analysis by Indian insurance online platform PolicyBazaar.com.
The Insurance Regulatory and Development Authority of India (IRDAI) has retained the obligatory cession in favour of the state-owned Indian reinsurer GIC Re at 4% for financial year 2025-26.
Peak Re has announced the successful issuance of the second CAT bond, via Black Kite Re, a special purpose insurer (SPI) in Hong Kong. Building on the success of its inaugural 2022 issuance, this transaction secures $50m in retrocessional reinsurance protection, extending coverage in Japan to earthquake and typhoon risks while introducing parametric earthquake protection for China and India.
According to Prudential, in 1Q2025, new business profit on a traditional embedded value went up 12% to $608m, annual premium equivalent (APE) sales went up 4% to $1.7bn and new the new business margin increased by two percentage points.
The Insurance Brokers Association of India (IBAI) has announced the launch of its chapter at GIFT City. With insurance brokers contributing nearly 40% to the general insurance business and aspiring to expand their presence in life insurance, IBAI's presence at IFSC will help amplify its impact on the industry's next phase of growth.
Howden India has appointed Ms Mandira Gupta as managing director and head of M&A, IMEA. In her new role, she will lead Howden's strategic focus on private equity and transactional risk insurance solutions.
Ten (10) fossil fuel companies caused more than $14tn of climate damage from 1991 to 2020, according to a study by a team at Dartmouth College, a private Ivy League research university.
Future Generali India has launched an AI platform that aims to simplify the process of assessing appropriate cover for an individual's health insurance requirements.