The central government has formed a panel to evaluate the design and implementation of its flagship health insurance scheme, Ayushman Bharat, and to propose improvements.
The average ticket size of retail health insurance in India has increased by nearly 48% over six years to INR26,533 ($320) so far in FY24, according to data from online insurance broker PolicyBazaar.
The Ministry of Ports, Shipping and Waterways has held discussions on its proposal to set up a domestic protection and indemnity (P&I) club for coastal ships and vessels.
Working women in India have outpaced men in life insurance ownership, according to the results of a survey by Max Life Insurance.
The Modi government may launch universal health insurance for 400m citizens who currently lack medical insurance.
The IRDAI will consider rationalising the proposed surrender value payable by life insurance companies to policyholders, following representations made by life insurance companies as well as the Life Insurance Council (LIC).
Aon has appointed Mr Rishi Mehra as head of India. In his new role, he will bring capabilities across risk, health, wealth and talent consulting together under a model. The model will bring expertise and solutions to clients across India. He will also be involved in the integration of Global Insurance Brokers.
Listed insurer ICICI Lombard General Insurance Company (ICICI Lombard) is expected to enhance its underwriting risk selection through the adoption of technology and analytics, said AM Best.
India's markets regulator has given Digit Insurance the go-ahead to launch an IPO after multiple compliance issues delayed approval for the deal originally planned in 2022, reported Reuters.
Aegon Life Insurance, a digital life insurance company, has announced the transfer of the shareholdings of Aegon India Holding and Bennett, Coleman & Company (BCCL) to Bandhan Financial Holdings.