India
Crop insurance dwindles in FY 2024, top 4 insurance cut exposure
Crop insurance dwindles in FY 2024, top 4 insurance cut exposure
Gross direct premium underwritten by insurers fell 4.2%.
India's resilience efforts face daunting climate risks
FM Global’s index exposes India's regional vulnerabilities.
India eyes FDI cap overhaul for insurers
FDI cap for general or life insurance companies is at 74%.
India’s pushes for reintroduction of tax exemptions
Tax benefits currently exist for health and life insurance premiums, albeit capped and complex.
India's M&A insurance market sees competitive shift
Value of deals surged by 60% to $20b in Q1 2024.
Niva Bupa Health in talks of IPO
Rs625 crore of the net proceeds from the fresh issuance to boost the capital base.
Marsh India reports surge in cyber incidents in 2023
The mean cost to recover from ransomware attacks was estimated at $1.82m.
Indian bank launches new low-cost accident insurance
The coverage also has additional benefits such as free health consultations.
Zurich Insurance to boost India workforce by 40%
This is equivalent to 600 employees.
India gains global interest from Zurich acquisition
India's financial services sector remains significantly underpenetrated.
GST Council reviews reinsurance, co-insurance tax status
An 18% tax is usually levied on any supply of service.
ISF co-funds parametric solution for remote Indian state
Nagaland faces high levels of disaster and climate-related impacts.
New IRDAI rules enhance grievance redressal
It also aims for a “zero grievances” status.
India’s non-life sector bags double-digit growth
It saw its premiums surge 14.9% in May.
Only 31% of Indian seniors insured for health
Unfortunately, 16% had applied for coverage but were denied.
Zurich Insurance bags majority stake in Kotak Mahindra General Insurance
Total consideration for the acquisition amounts to $670m.
IRDAI greenlights Paytm Insurance withdrawal
It will focus on the health, life, motor, shop and gadgets segment.
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AI isn’t replacing insurance, it’s finally making it work