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IRDAI NEWS
Insurance Bill: IRDAI to get search, seizure powers over intermediaries, more enforcement scope
December 17, 2025 3:43 pm
Under the revised provisions, the IRDAI Chairperson will be empowered to order searches, seizures and inspections if there is reason to believe that insurers and related entities have failed to produce documents, are withholding information relevant to an investigation, or are likely to tamper with records.
Former finance secretary Ajay Seth set to become new IRDAI Chairman
July 24, 2025 3:43 pm
A 1987-batch IAS officer from the Karnataka cadre, Seth has held several key roles in the Finance Ministry.
IRDAI remains headless for 2 months after former Chairman's exit
May 15, 2025 8:47 pm
The insurance sector, which mobilised a whopping Rs 7 lakh crore as premium income in FY25, is a key player in the country’s growth
IRDAI nod for first private reinsurance firm
March 14, 2025 10:03 pm
Currently, public sector General Insurance Corporation (GIC Re) is the only reinsurance company operating in India.
After RBI and Sebi, govt kicks off search for new IRDAI chief
March 10, 2025 11:34 pm
The government has advertised for a new chairman for Hyderabad-based IRDAI, just four days before the end of the tenure of the current Chairman.
Irdai forms 7-member committee to review insurance sector reforms
February 20, 2025 10:44 pm
The government’s major reforms proposals include composite licence, differential capital, reduction in solvency norms, issuing captive licence, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products.
Private insurers show 239% jump in motor commission payouts to Rs 16,578 crore
January 11, 2025 10:27 pm
Interestingly, public sector insurers kept away from the ‘commission game’ and reported only 31.59 per cent rise in commission expenses at `3,099 crore in FY2024 as against `2,355 crore in FY2023.
Unclaimed insurance amount over Rs 20,000 crore, says IRDAI
January 06, 2025 8:10 am
The life insurance industry paid total benefits of `5.77 lakh crore in 2023-24 which constitutes 70.22 per cent of the net premium.
Medical inflation of 14% fuels rise in health policy premium: Sumit Bohra, President, Insurance Brokers Association of India
December 16, 2024 7:44 am
Sumit Bohra said 100 per cent FDI in insurance will create a huge impact but maintained that allowing an agent to represent multiple insurers would not be correct.
70 insurance players not enough for 1.4 billion population; more companies needed: IRDAI Chairman
October 23, 2024 8:34 am
On listing, Panda said a large number of insurance players should strive to become public.
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