Insurers will now be able to invest in debt ETFs (exchange traded funds) with underlying debt securities of central public sector enterprises (CPSEs), says the insurance regulator.
The Indian government is considering allowing pension funds to invest in new tech businesses.
The government may announce a proposal to increase the direct foreign investment ceiling in insurance to 74% in the February Budget, up from 49% at present, say people with knowledge of the matter.
With the mergers of 10 state-run banks underway, the IRDAI is planning to allow them to cross the 10% ownership caps in more than one insurance company and limit the banks' management control to only one entity.
Today more women in India are buying health insurance for themselves. This has increased from 9% in 2016-17 to around 19% in 2018-19 according to a study by Policybazaar.com.
The IRDAI is working on a plan to launch government-funded catastrophe (cat) cover for the poor segments of society. The project will start as a pilot scheme in selected states.
Ping An's overseas investment arm Ping An Global Voyager Fund has led a $70m Series D funding in Indian auto technology company CarDekho alongside Sequoia Capital and Hillhouse Capital. This is the insurance group's first venture investment in India.
The Finance Ministry has sought approval from the Parliament for an additional grant of funds for the recapitalisation of three state-run general insurance companies ahead of taking further steps to merge them.
In a bid to increase the penetration of life insurance in the country, the IRDAI is allowing point of sales (PoS) persons to distribute micro life insurance plans.
Agriculture Insurance Company (AIC) is making big strides to help school dropouts and kids with low learning levels as well as other vulnerable groups of children.