Insurance

SBI Life Insurance Company posted a 5% year-on-year increase in net profit for the third quarter, reaching Rs. 577 crore. The firm’s performance reflects resilient demand for life insurance products amid evolving market dynamics and disciplined cost management. Growth was underpinned by expanded new business premium collection, improved persistency ratios, and a diversified product portfolio tailored to shifting consumer needs.

HDFC ERGO General Insurance is set to undergo a leadership transition following the resignation of its Managing Director and Chief Executive Officer, Anuj Tyagi. Tyagi, who has been closely associated with the company’s growth and strategic evolution, has stepped down from his role, prompting the insurer to initiate succession planning at a critical juncture for the general insurance industry. His exit comes at a time when the sector is navigating heightened competition, regulatory oversight, and rising demand for digital-first insurance solutions.

ICICI Prudential Life Insurance reported a robust financial performance in the third quarter, posting a 19% year-on-year increase in net profit to Rs 390 crore. The growth was driven by disciplined cost management, improved persistency ratios, and a steady expansion in value of new business. Despite a challenging macroeconomic environment, the insurer demonstrated resilience through balanced product diversification and a focus on high-margin offerings.

ICICI Lombard General Insurance reported a 9 percent year-on-year decline in net profit for the third quarter, with earnings slipping to Rs 659 crore. The performance was shaped by elevated claims, particularly in health and motor insurance, alongside pricing pressure in a competitive market. While premium growth remained steady and the insurer retained a strong balance sheet, underwriting margins came under strain.

Life Insurance Corporation of India (LIC) has initiated a major revival campaign aimed at reactivating lapsed policies, encouraging policyholders to restore coverage and maintain financial security. The campaign targets individuals whose premiums have fallen into arrears, offering flexible options for reinstatement and incentives for timely renewal. LIC emphasizes that reactivating lapsed policies not only preserves insurance benefits but also strengthens long-term financial planning for families.

India’s insurance industry has expressed serious reservations about the proposed amendments to the country’s insurance legislation, warning that certain provisions could disrupt business models and weaken regulatory clarity. While the draft Insurance Amendment Bill is positioned as a reform-oriented measure aimed at improving efficiency and consumer protection, insurers argue that aspects of the proposal may increase compliance costs, create operational uncertainty, and deter long-term investment.

On December 1, 2025, Life Insurance Corporation of India (LIC) appointed Ramakrishnan Chander as its new Managing Director (MD). The shift marks a major change in the insurance behemoth’s leadership, with Chander bringing over three decades of institutional experience and a strong track record in investment and operations. The appointment comes as LIC posts robust quarterly results — underlining a moment of stability and renewed confidence for the company. Chander’s ascent is expected to shape LIC’s strategic course through 2027 and beyond.

The life insurance industry in India is poised for robust expansion, with rating agency ICRA projecting a 9% increase in new business premiums (NBP) for the upcoming fiscal year. This optimistic forecast reflects rising consumer awareness, innovative product offerings, and favorable demographic trends fueling insurance adoption. Analysts note that both private and public insurers are leveraging technology, digital distribution channels, and personalized policies to attract a broader customer base.

India is considering a transformative change in its air travel refund framework, exploring a proposal that would allow passengers to recover up to 80% of their airfare even when cancelling tickets at the last minute. The initiative involves embedding a low-cost insurance component directly into ticket prices, ensuring that travelers do not need to purchase add-on coverage. The plan, which could take shape in the coming months, aims to bring predictability, fairness and consumer protection to a sector long criticized for opaque refund rules and steep penalties.

Life Insurance Corporation of India (LIC) has urged the government to exempt life insurance products from the Goods and Services Tax (GST), arguing that such a move would allow insurers to claim Input Tax Credit (ITC) and ultimately reduce costs for policyholders. The proposal comes at a time when the insurance industry is navigating rising operational expenses, evolving regulatory frameworks, and increased demand for transparent, affordable financial protection.