The Insurance Regulatory and Development Authority of India (IRDAI) has reconstituted its Insurance Advisory Committee (IAC), appointing new members from diverse expertise. The committee is responsible for advising IRDAI on regulatory matters concerning the insurance industry. New appointments to the IAC According to the official gazette notification published by IRDAI, the following individuals have been […]
Make insurance cheaper or…, IRDAI’s warning to companies – CNBC TV18
In its quarterly meeting with insurance companies, the Insurance Regulatory and Development Authority of India (IRDAI) has warned insurance companies to enforce limits on commissions and pass on the benefits to policyholders. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now Equity: […]
IRDAI caps premium hike for senior citizens at 10% – CNBC TV18
In a significant move to protect senior citizens from steep health insurance premium hikes, the Insurance Regulatory and Development Authority of India (IRDAI) has barred insurance companies from increasing premiums for senior citizen policyholders by more than 10% in a single year without prior consultation. The decision comes in response to numerous instances of exorbitant […]
ICICI Lombard Q3 Results | Net profit jumps 68%, gross premium income hit by new accounting norms – CNBC TV18
ICICI Lombard General Insurance posted a 67.9% year-on-year (YoY) rise in net profit for third quarter at ₹724.4 crore, compared to ₹431.5 crore in the same quarter last year. Company Value Change %Change The profit boost was largely supported by a robust 155% growth in capital gains, which stood at ₹276 crore in Q3 FY25 […]
IRDAI initiates industry consultation on GST rate for insurance sector – CNBC TV18
The Insurance Regulatory and Development Authority of India (IRDAI) is holding talks with the insurance industry to determine the optimal Goods and Services Tax (GST) rate that would allow companies to pass on tax benefits to policyholders, sources told CNBC-TV18. Company Value Change %Change Life and health insurance companies are expected to present their views […]
IRDAI eyes regulations to diversify distribution channels and bancassurance practices – CNBC TV18
The Insurance Regulatory and Development Authority of India (IRDAI) has expressed concerns over the dominance of a single distribution channel in the overall business of life insurance companies and the reliance on parent banks within the bancassurance segment. On bancassurance, IRDAI is reportedly considering regulations to cap the share of a parent bank in the […]
Insurance For All By 2047: What is micro-insurance and how it can bridge coverage gaps – CNBC TV18
SUMMARY As the IRDAI targets “Insurance for All” by 2047, micro-insurance is becoming key to providing affordable coverage to India’s low-income and underserved populations. Tailored to protect those most vulnerable to financial losses, micro-insurance helps individuals in the underprivileged sector navigate risks they cannot afford to face alone. Here’s more By Anwesha Das December 12, […]
RBI’s tough love — the unaddressed regulatory challenge in India’s financial ecosystem – CNBC TV18
The Reserve Bank of India (RBI) often finds itself walking a tightrope between fostering growth and ensuring financial stability. Its regulatory interventions, while well-intentioned, have increasingly come under criticism for their impact on credit access, financial market development, and lending behaviour. A recent critique termed the RBI’s regulatory approach “misdirected,” but the discussion it sparks […]
RDAI’s bancassurance limits idea — why it is a much needed wake-up call – CNBC TV18
The usual conundrum of regulators on how to develop and grow their sector is much more stark for the Indian insurance regulator — IRDAI. Regulation, at its best, is the art of balancing innovation with integrity — a craft that thrives on long term focus, demands trust, and dares to disrupt itself to maintain its […]
100% FDI will attract major global insurers, boost competition in India’s insurance market, says expert – CNBC TV18
The Indian insurance sector is poised for transformative growth as the government considers allowing 100% foreign direct investment (FDI) in the sector. Nilesh Sathe, former Member of the Insurance Regulatory and Development Authority of India (IRDAI), believes this move will attract substantial interest from global insurance giants, driving both new market entries and increased stake acquisitions […]