Insurance

Indian insurance industry trends in 2022

The Indian insurance industry has experienced significant changes and developments in 2022, including new regulations, proposed amendments, and growth opportunities. These changes have allowed the industry to adapt to new trends and digital disruptions, and the Insurance Regulatory and Development Authority of India (IRDAI) is actively working to ensure that insurers remain relevant and achieve

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IRDAI annual report for 2021-22: Traditional products registers double-digit growth

Life, pension and the variable segment recorded growth of 10.70%, 13.38% and 34.66%, respectively, while the annuity and health segments witnessed a decline of 11.83% and 2.68%, respectively, during the last financial year. Life insurance premiums for unit-linked products (ULIPs) witnessed gradual growth for the last three financial years, while premiums for traditional products grew in

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IRDAI: Insurance companies not to embed burning cost rates

Insurance regulator Irdai has asked non-life insurance companies and reinsurers to ensure that broad-occupancy market average burning costs rates for fire and engineering risks, published by the Insurance Information Bureau of India (IIB), are not embedded as “minimum rates” within reinsurance treaty agreements applying to the Indian market for the risks commencing from the next

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