The growth champion of global life insurance business over the next decade is likely to be India, with a growth rate of +13.6% p.a, says Allianz in its "Global Insurance Report 2024".
The listed financial services subsidiary of the automobile manufacturing group Mahindra & Mahindra has obtained a certificate of registration from the IRDAI for a corporate agency licence.
Online insurer, Go Digit General Insurance, saw a promising debut on the stock exchanges yesterday, with its shares opening at the price of INR286 ($3.43) on the National Stock Exchange (NSE), marking a 5.15% increase from the issue price of INR272, notes IIFL Securities, a stockbroking company which is part of the IIFL Finance Group.
The Insurance Regulatory and Development Authority (IRDAI) has reportedly discussed with the CEOs of life insurance companies to do away with the high upfront commission of life insurance agents in the first year.
The potential conflict zone mentioned this year by the biggest number of panelists in a survey on political risk by WTW is India and its regional neighbours.
The IRDAI has issued a Master Circular on Actuarial, Finance and Investment Functions of Insurers.
Pune-based online insurer Go Digit General Insurance's (Go Digit) initial public offering (IPO) has attracted an overall subscription rate of 9.60 times when its three-day subscription period ended on 17 May.
India's general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.9% from INR3.35tn ($40.36bn) in 2024 to INR4.89tn ($57.3bn) in 2028, in terms of gross written premiums (GWP), forecasts data and analytics company GlobalData.
The sale of health insurance policies with maternity benefits is growing at 80% annually, according to data from Insurtech platform company, PolicyBazaar.
The IRDAI has approved the acquisition of bankrupt Reliance Capital's life, general, and health insurance units by the conglomerate, the Hinduja Group, moving the group closer to finalising its deal for the insurers.