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INSURANCE PENETRATION AND DENSITY
IRDAI chairman urges insurers to build affordable products for Rs 5-25 lakh cover to boost penetrationIRDAI Chairman Ajay Seth called for insurance companies to prioritise covering a broader range of unique lives rather than merely chasing p...- As Indians buy pricier phones on EMI, OneAssist bets big on protection plansAs smartphones become costlier and increasingly financed through EMIs, device damage is emerging as a new source of household financial str...
- IRDAI misses to measure average sum assured per policyholder in its annual reportWhen IRDAI defines success as premium collected, and the industry maximises commissions by selling products that collect maximum premium pe...
- Economic Survey raps insurers for high commissions eroding policyholder valueInsurers must prioritise the digitisation of distribution to rationalise acquisition costs and restore ‘value for money’ for policyholders,...
- Mis-selling in insurance sector significant concern: IrdaiInsurance regulator Irdai has flagged mis-selling as a major issue. Grievances related to unfair business practices have risen significantl...
- Insurance penetration remained unchanged in 2025, at about half of global averageIndian insurance penetration stays at 3.7 percent, lagging behind the global average. Life insurance penetration saw a slight dip, while no...
- FM Nirmala Sitharaman asks public sector general insurance companies to widen reachSitharaman reviewed the performance of PSGICs and emphasised the urgent need for digital transformation to improve service delivery and eff...
- Centre allows 100% foreign investment in insurance to boost capital flowIndia has increased foreign direct investment in insurance to 100%, aiming to attract more capital to the industry. Finance Minister Nirmal...
- Insurance sector attracted Rs 54,000 crore FDI in last 9 years: DFS SecretaryAsset Under Management nearly tripled to Rs 60.04 lakh crore as compared to Rs 21.07 lakh crore in 2013-14, while the total insurance premi...
- Parliamentary panel recommends reduction in GST on insurance productsThe Committee, to make insurance more affordable, recommended that GST rates applicable to health insurance products, particularly retail p...
- IRDAI in talks with govt for relaxation of Rs 100-crore entry capital for insurers: Debasish Panda"Like in the banking system, we have microfinance institutions, regional banks, and small finance banks. So, we have all categories of bank...
- Covid brings life insurance penetration in India to global levelsThanks to the coronavirus pandemic, many more Indians purchased life insurance policies. According to the Economic Survey 2021-2022, life i...
- India's insurance penetration "extremely low" compared to Asian rivals such as China, Malaysia and Thailand: Economic SurveyEven as India’s insurance penetration grew from 2.71% in 2001 to 3.76% in 2019, when compared with the penetration recorded in comparable A...
- IRDAI in favour of 100% FDI for entire insurance intermediary sectorThe increase in foreign direct investment (FDI) limit to 100 per cent will not result in significant inflow of foreign capital.
- General insurance penetration down to 0.70 per cent in FY15Industry has blamed the decline on slow economic growth during the period, apart from life insurance players snatching away some products.
- Government should set up insurance index to measure progress: StudyThe government should put in place an index for insurance penetration to be quantified as a measure of financial and social progress, says ...
- Maharashtra tops in non-life premium, Delhi No 1 in insurance densityAccording to data from General Insurance Council (GIC), the top five general insurance markets in terms of gross premium are Maharashtra.
- Insurance industry needs sustainable, profitable model: Chanda KochharTerming the low insurance density in the country as a "matter of concern", ICICI Bank MD and CEO Chanda Kochhar today said the industry req...
- P Chidambaram wants greater penetration in the non-life insurance sectorFinance Minister P Chidambaram today said there is a need to increase penetration and coverage of non-life insurance in the country.
- 'Insurance sector attracted $543 mn FDI'As on March 31, 2007, the entry of foreign partners has resulted in attracting $543 million FDI.
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