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Remove 18% GST on life, medical insurance premium: Gadkari to Sitharaman

Union Minister of Road Transport and Highways Nitin Gadkari has requested Finance Minister Nirmala Sitharaman to withdraw the 18 per cent goods and services tax (GST) on life and medical insurance......

Air India crash creates rare insurance dilemma: Nominees also among dead

The devastating Air India 171 plane crash, which claimed 241 lives on board and 29 on the ground, has created an unforeseen challenge for insurance companies to settle some claims where even the......

Commission structure in life insurance sector may change

The committee formed under the Life Insurance Council to review the commission structure in the life insurance sector has recommended capping distributor commissions or deferring them to ease......

GST rejig helps life insurers' NBP surge 40% in December

The life insurance industry recorded nearly 40 per cent year-on-year (Y-o-Y) growth in new business premiums (NBP), aided by the rationalisation of goods and services tax (GST) on individual life......

Life insurers may face VNB margin squeeze

The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of......