An overwhelming 85% of Indians intending to travel abroad are likely to purchase travel insurance for their next trip, but this is more skewed towards high-income earners, according to a new survey by Allianz Partners Travel Index 2025.
Term insurance has become the preferred financial product for 31% of working Gen Z individuals in India, according to a recent study by Tata AIA Life Insurance in partnership with NielsenIQ.
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.
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.
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.
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.