Insurance sector

ICICI Prudential Life floats income guarantee product, inflation-adjusted returns for volatile times; how will it work

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ICICI Prudential Life floats income guarantee product, inflation-adjusted returns for volatile times; how will it work

ICICI Prudential Life Insurance has launched a new product, ICICI Pru GIFT Select, designed to provide guaranteed immediate income, addressing the uncertainties of current market conditions. This new savings plan includes benefits such as guaranteed returns, preservation of wealth, and an inflation-adjusted increasing income option. For those seeking financial security, the plan offers immediate income … Read more

FDI limit in insurance sector increased to 100%: ‘India could be on the path to having 1,000 insurers’ 

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FDI limit in insurance sector increased to 100%: ‘India could be on the path to having 1,000 insurers’ 

Finance Minister Nirmala Sitharaman in her Budget speech 2025 has proposed to increase the foreign direct investment (FDI) limit in the insurance sector from 74% to 100%, a move expected to bring more players into the market and drive innovation. “With 100% FDI now allowed in insurance, India could be on the path to having … Read more

Insurance sector grew by 7.7%, attracted 62% of FDI inflows: Economic Survey FY25 

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Insurance sector grew by 7.7%, attracted 62% of FDI inflows: Economic Survey FY25 

Budget 2025: The Economic Survey 2025 stated that the Indian insurance sector has shown an upward trajectory. It noted that total insurance premiums grew by 7.7% in FY24, reaching Rs 11.2 lakh crore. The survey noted that insurance received the highest FDI of 62% of total equity FDI inflows tothe  services sector.  The survey, tabled by … Read more

‘Paid Rs 5,467 GST…’: Finfluencer questions high tariffs on insurance premium renewals

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‘Paid Rs 5,467 GST…’: Finfluencer questions high tariffs on insurance premium renewals

There is a growing demand to reduce or eliminate the current 18% Goods and Services Tax (GST) rate on life and health insurance policies. The high GST rate on insurance premiums poses a significant obstacle, especially for individuals with limited incomes. The combination of high premiums and GST makes insurance products inaccessible to many. Ajit … Read more

Ayushman Bharat scheme: How your parents, in-laws over 70 years can avail for this new insurance plan

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Ayushman Bharat scheme: How your parents, in-laws over 70 years can avail for this new insurance plan

Senior citizens are set to receive a new health insurance coverage under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). The Union Cabinet announced on Wednesday the expansion of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to include individuals aged 70 years and above, regardless of their income level, in … Read more

GST on health and life insurance premiums may come down, issue sent to rate rationalisation panel: Report

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GST on health and life insurance premiums may come down, issue sent to rate rationalisation panel: Report

GST rates: The Goods and Services Tax on health and life insurance premiums has been making headlines for quite some time. According to a report by CNBC-Awaaz on August 8, sources familiar with the matter have suggested that a reduction in the GST rate on the premium paid for health and life insurance might be … Read more

Jan Dhan, Aadhaar, mobile are biggest industry game-changers, says IRDAI's Debasish Panda

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Jan Dhan, Aadhaar, mobile are biggest industry game-changers, says IRDAI's Debasish Panda

India’s journey toward financial inclusion has witnessed various innovations in policy over the last decade. The government’s JAM, which is the bedrock of the digitalisation drive to formalise the economy, has been the biggest game changer for the BFSI industry. JAM stands for  ‘Jan Dhan Account – Aadhaar – Mobile’ and has revolutionised financial inclusion … Read more

Why is SBI Life analysts’ top insurance sector bet post Q1

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Why is SBI Life analysts’ top insurance sector bet post Q1

SBI Life’s June quarter results cheered investors and sent the stock soaring 10 per cent in Friday’s trade. Analysts said the numbers were stellar on all counts be it growth or margins. bucked the trend of slowdown seen at peers in terms of growth in annual premium equivalent (APE) and retail protection APE. Among key … Read more

RBI may have underplayed inflation, but its reasons look compelling

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RBI may have underplayed inflation, but its reasons look compelling

Yet another week of whipsaws in the market as the broader sentiment continues to remain ‘Sell on Rise’ with bears countering the bulls on every significant upmove. This week’s RBI MPC meet helped elevate markets’ mood as the policy was more dovish than expected. Contrary to Street expectations, the policy seems to be taking a … Read more