Bajaj to buy out Allianz’s stakes in insurance joint ventures Leading Indian NBFC, Bajaj Finserv has announced the exit of Allianz SE from its insurance joint ventures in India on March 17, 2025. The German financial services company, Allianz SE plans to sell its 26% stake in Bajaj Allianz General Insurance Company Limited (BAGIC) and … Read more
Claim rejections form majority of insurance grievances, millennials lead complaints Insurance grievances are rising sharply, with claim rejection emerging as the leading cause, accounting for 88% of complaints filed by policyholders. A report by Insurance Samadhan, a grievance redressal platform, found that millennials, aged 25-38, are the most proactive in seeking resolution, making up 46% … Read more
Non-life insurance premiums decline in February amid accounting changes, slower Growth Premiums of non-life insurance companies fell 2.82% year-on-year (Y-o-Y) in February to Rs 21,747.57 crore, impacted by revised accounting norms and a slowdown in the health and motor insurance segments. The decline comes amid an overall 6.6% Y-o-Y growth in non-life premiums to Rs … Read more
Debasish Panda ~Samriddhi Singh Mahar As the chairman of the Insurance Regulatory and Development Authority of India (IRDAI) many key policy decisions and regulatory changes took place under him. Around the 6th of April, 2022, as the newly appointed chairman of IRDAI, Debashish Panda led sessions with CEOs and key insurance officials. Here he spoke … Read more
Insurance firms see drop in ULIP demand as stock market declines The life insurance industry experienced a slowdown in February 2025, with a sharp decline in unit-linked insurance plan (ULIP) sales following recent stock market corrections. The industry’s annualized premium equivalent (APE) fell 6% year-on-year (YoY), primarily due to a 23% drop in LIC’s APE. … Read more
