Foreign reinsurers' branches (FRBs) in India will, in a breakthrough move, now be able to bid for reinsurance contracts along with Indian reinsurers. At present, GIC Re is the only active Indian reinsurer.
The government of India has launched a major exercise to create awareness about cyber-safety.
The insurance regulator has announced that car and two-wheeler owners can replace their bundled compulsory personal accident (CPA) cover on expiry with a standalone one starting 1 January 2019.
The increasing number of two-wheeler accident deaths on Indian roads has prompted insurers to come forward and promote road safety.
The number of wealthy Indians is expected to rise by 87% over the next five years to 529,940 people, according to a study by IIFL Wealth Management and Wealth-X.
Acko General Insurance is the new kid on the block in the digital space in India and is already making waves across the country through its innovative operations.
The Department of Financial Services is seeking a capital infusion of INR60bn ($826m) in the three to-be-listed state-owned non-life insurers to shore up their weak solvency position.
Making insurance mandatory via loan linked products is a sure way to boost insurance penetration in India, says IndiaFirst Life Insurance managing director and CEO Ms R.M. Vishakha.
The insurance regulator has rejected India-born Canadian billionaire investor Prem Watsa's proposal to acquire India's only local reinsurer, ITI Reinsurance.
The insurance regulator has proposed to relax rules for the registration of insurance marketing firms (IMFs) with an aim to improving insurance penetration in the country.