LIC (Life Insurance Corporation of India) has launched two new non-linked, non-participating insurance plans named ‘LIC Bima Platinum’ (Plan 770) and ‘LIC Jeevan Raksha’ (Plan 894) on the occasion of the 70th anniversary of LIC in Mumbai.
It is to be noted that the ‘LIC Bima Platinum’ requires a minimum Basic Sum Assured (BSA) of ₹3 lakh with no upper limit. The ‘LIC Jeevan Raksha’ provides a BSA ranging from ₹5 lakh to ₹24 lakh.
Bajaj General Insurance Ltd has launched “My Family Complete”, which is the first health insurance policy in India to include pet dogs and cats as insured family members under a single integrated plan.
The policy provides comprehensive protection for adults (18 years and above), children (3 months to 30 years), and pets (from 3 months of age with no upper age limit).
Jammu & Kashmir (J&K) Bank has entered into a Corporate Agency Agreement (CAA) with HDFC Life Insurance Company Ltd (HDFC Life) to offer a range of customer-centric insurance products.
Bajaj General Insurance has signed an MoU with Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group based in Zurich, Switzerland, to explore opportunities in the commercial insurance segment in India.
The Supreme Court of India (SCI) bench, comprising Justice Sanjay Karol and Justice Prashant Kumar Mishra, has extended the mandatory third-party insurance period for newly purchased vehicles by one year to strengthen compliance with the Motor Vehicles Act (MVA), 1988.
Under the revised mandate, new cars are now required to have 4 years of third-party insurance coverage, while two-wheelers are mandated to have 6 years of coverage.
SBI Life Insurance has signed a strategic corporate agency agreement with the Jammu & Kashmir Bank (J&K Bank) to distribute comprehensive life insurance products across India.
The partnership will offer solutions including protection, savings, retirement, and child plans through a network of over 1,000 J&K Bank branches. This collaboration aligns with the Insurance Regulatory and Development Authority of India (IRDAI) vision of ‘Insurance for All by 2047’.
The Insurance Regulatory and Development Authority of India (IRDAI) has approved the acquisition of Magma General Insurance from Sanoti Properties (owned by Adar Poonawalla) by Patanjali Ayurved and the DS Group for ₹4,500 crore. Under the share purchase agreement (SPA), Patanjali Ayurved will acquire a 73.56% stake, while the DS Group will acquire a 24.50% stake in the company.
Separately, the IRDAI has granted a licence to ProTec General Insurance, a joint venture (JV) between the M Pallonji Group and Divya Sehgal of True North.
Axis Max Life Insurance Ltd has launched a retirement-focused insurance product named 'Axis Max Life Smart Retirement Income with Sustained Earnings Plan' (Smart RISE). The plan integrates a Guaranteed Annuity with a Variable Annuity linked to the NIFTY 50 Index.
Policybazaar, an online insurance marketplace in India, has appointed veteran actor Amitabh Bachchan as its brand ambassador.
He will spearhead a nationwide awareness campaign titled "Parivaar Sabse Pehle" (Family Comes First), which was developed by MagicCircleon Communications.
The Insurance Regulatory and Development Authority of India (IRDAI) has granted the final (R3) Certificate of Registration (CoR) to Prudential HCL Health Insurance Ltd. It is a joint venture (JV) between the Prudential Group of the UK (70% stake) and the HCL Group of India (30% stake). With this, the company becomes the 8th standalone health insurer in India.
It is to be noted that regulatory guidelines mandate a minimum paid-up equity capital of ₹100 crore for an Indian insurance company or a Limited Liability Partnership (LLP) registered under the LLP Act, 2008.
The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 7-member Working Group on AI (WG-AI) to guide insurance companies regarding the adoption, governance, and oversight of AI technologies.
The WG-AI is chaired by Prof. Sandeep K Shukla, Director of the International Institute of Information Technology (IIIT) Hyderabad. Deepak Gaikwad, General Manager (GM) and Chief Information Security Officer (CISO) at IRDAI, has been appointed as the member-convener of the group.
Jumpp, operated by the Finvasia Group, has received Corporate Agency and Insurance Self Network Platform (ISNP) licences from the Insurance Regulatory and Development Authority of India (IRDAI).
These licences enable Jumpp to distribute insurance products digitally through its AI-powered platform. The platform has also partnered with YES Bank to provide banking and Bharat Bill Payment System (BBPS) services.
The Insurance Regulatory and Development Authority of India (IRDAI) has formed a sub-committee of the Insurance Advisory Committee (IAC) to examine the current state of private health insurance in India.
The initiative aims to improve consumer experience and increase the reach of health insurance by building trust among policyholders.
The sub-committee is tasked with reviewing critical parameters, providing advice, and overseeing digital transformation.
Maha
46.5
V Vijay
48.3
DS Devadharshini Senthil
44
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"Came across Editorial Vocabulary podcast video accidentally and really loved the idea. Its really useful for my preparation."
"Wonderful session. Thank you so much and really hats off to you for making current affairs and editorial an easy one."
"This is one the best app for Current Affairs. The content is cut and short whichever is required and is easy to remember with flashcards."
"Thx to daily quizzes. It played a big role in revisions. April 2024 - April 2025 I missed quizzes 3 or 4 days only. It's that interesting."
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