Private-sector life insurers in India are actively working to revise their commission structures for distribution channels, following a significant regulatory shift that took effect on 1 October. This change mandates…
India's life insurance sector has experienced a remarkable compound annual growth rate (CAGR) of 12% and 10.5% in terms of new business premiums and annual premium equivalents, respectively, from fiscal…
Life Insurance Corporation of India launches an affordable life insurance solution for micro-finance institutions, SHGs, and more, effective from 7th October 2024. The Life Insurance Corporation of India (LIC) has…
LIC and Infosys Join Forces for Omnichannel Engagement Life Insurance Corporation of India (LIC), the country’s leading insurance company, has signed an agreement with Infosys to develop a cutting-edge digital…
A recent survey conducted by Canara HSBC Life Insurance has revealed that the primary motivation for purchasing life insurance in India is savings, with family financial security being a close…
Life Insurance Corporation of India (LIC), the country’s largest insurer, has outlined an ambitious growth strategy for the upcoming fiscal year. LIC has projected a 2%-3% increase in its value…
Initiative Overview Max Life Insurance has announced the 'Aarohan' initiative to expand its distribution network by adding 75 new offices in Tier 3 and Tier 4 cities across India. The…
Key Milestone ICICI Prudential Life Insurance Company announced that its assets under management (AUM) have reached Rs 3.14 lakh crore as of July 31. Coverage and Sum Assured The company…
New Insurance Plans The Life Insurance Corporation of India (LIC) has launched new term insurance products aimed at youth: LIC’s Yuva Term/Digi Term and LIC’s Yuva Credit Life/Digi Credit Life.…
Significant Revenue Collection The government informed Parliament that GST on health and life insurance brought in Rs 21,256 crore over the last three financial years, with Rs 8,263 crore collected…