$60 m is raised in Series B by InsuranceDekho.
Leading insurtech business in India, InsuranceDekho, has achieved a noteworthy milestone with the $60 million it has raised in its current Series B fundraising round. The company has drawn new…
India has defied the Asian trend by valuing life insurers more highly: Report
According to a McKinsey analysis, life insurers in India have been valued higher than those in other Asian nations like China, Japan, and Taiwan, making the Indian life insurance market…
Aviva Life faces search by GST authorities
Indian tax inspectors recently raided the Aviva Life in New Delhi and took records as part of their probe into possible tax cheating. According to two of the three sources—who…
According to ICRA, life insurers’ new business premiums will increase by 9–12% in FY24.
According to ICRA, the new business premium (NBP) for the life insurance market is anticipated to increase by 1113 percent to Rs. 4.494.66 lakh crore in FY25, from Rs. 3.71…
At Rs. 17,469 crore, LIC reports its highest-ever half-year profit.
Life Insurance Corporation (LIC) reported its highest-ever half-yearly profit of Rs. 17,469 crore for the first half of FY24. This was primarily due to the transfer of Rs. 13,768 crore,…
Life insurers face VNB margin pressure in Q2
The life insurance industry is expected to report a compression in its margin during the second quarter of financial year 2023-24 (Q2FY24) due to decline in share of the margin…
50-year bond ends life insurers’ wait
The central government has introduced a new dated security of 50-year tenor in its borrowing calendar for the second half of the current financial year—a long-standing demand by life insurance…
Insurers may get financial creditor status from govt
To make the surety bond business more attractive, the government is looking at making relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditors in…
LIC’s market share drops to 59% from 68.7% in a year
The share of LIC in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022…
GST Council to clarify life insurance premium
The GST Council will soon provide clarity on input tax credit for life insurers, following a recent Rs 290-crore demand on Life Insurance Corporation — a move that is expected…