Browsing: IRDAI

Valueattics Reinsurance, backed by Prem Watsa and Kamesh Goyal, receives the first private reinsurance license in India, marking a significant shift in the industry.

Value Attics Reinsurance, backed by Prem Watsa’s Fairfax group, receives a license, marking the end of GIC Re’s monopoly in India.

Debasish Panda’s term as IRDAI chief saw significant consumer-centric reforms, impacting the insurance industry’s business models and future direction, including the Bima Trinity initiative.

New business premiums for life insurance companies in February experienced a year-on-year decrease of 12%, marking a continued decline following new surrender value guidelines implemented in October 2024.

Understanding the evolving landscape of insurance underwriting in India is now more critical than ever, with stricter rules and increasing complexities.

A look at the key reforms and challenges faced by Debasish Panda during his three-year term as chairman of the Insurance Regulatory and Development Authority of India (Irdai).

Insurers request extension from Irdai for Bima-ASBA implementation, citing the need for more time to adopt the new payment system.

Changes in accounting norms by the insurance regulator have led to reduced commissions for agents, impacting the sale of multi-year health insurance policies.

The Insurance Regulatory and Development Authority of India (IRDAI) has issued a warning to insurance companies regarding rising commission payouts, which are contributing to increased premiums for customers. The regulator has urged insurers to take corrective action.

The Insurance Regulatory and Development Authority of India (IRDAI) has cautioned insurance companies regarding elevated commission payouts, which are contributing to higher premiums for consumers. The regulator has mandated corrective action to curb these commissions, or face potential limitations.