The Insurance Regulatory and Development Authority of India (IRDA) has granted an insurance broking licence to fintech firm PayNearby. The company will distribute its insurance …
India to further open up insurance sector
The Government of India has revealed plan to increase the foreign direct investment (FDI) in insurance intermediaries to 100% from existing limit of 49%. Union …
Indian digital insurer RenewBuy raises $19m in fresh funding
India-based digital insurance start-up RenewBuy has secured INR1.3bn ($18.85m) in a Series B funding round led by impact venture capital firm Lok Capital and IIFL …
Bharti AXA Life partners Airtel Payments Bank to target uninsureds in rural India
Bharti AXA Life Insurance has teamed up with Airtel Payments Bank to offer pure term insurance through the lender’s network of banking points across India. …
India exploring options to consolidate state-run insurance firms
The Government of India is weighing various options including merger of state-run general insurance firms to improve their financial condition. An inter-ministerial panel (IMG) has …