Business EconomyPosted at: Jan 19 2026 5:39PM


Insurance sector issued over 41crore policies in FY25: DFS

New Delhi, Jan 19 (UNI) M. Nagaraju, Secretary, DFS, on Monday said during the Financial Year 2024–25, the Insurance sector has issued 41.84 crore policies, collected premiums of Rs 11.93 lakh crore, paid claims of Rs 8.36 lakh crore, and reported assets under management of Rs 74.44 lakh crore as on 31 March 2025.
He further said the total reinsurance market in India stood at Rs 1.12 lakh crore in 2024–25.
While addressing the 3rd Edition of the IFSCA–IRDAI–GIFT City Global Reinsurance Summit in Mumbai, the DFS said the Indian insurance sector, an integral part of the financial system, plays a significant role in the economy by providing protection against mortality, property, and casualty risks, encouraging savings, and providing long-term funds for infrastructure development and other long-gestation projects.
The summit was themed around “Bridging India Today, Insuring India Tomorrow – the India Evolution Roadmap”.
He mentioned that the government and the insurance regulator have enabled policy frameworks and structural reforms to further growth and insurance accessibility.
Foreign Direct Investment in the insurance sector has been raised to 100 percent, a new reinsurer was registered last year, and the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 provides for the formation of a Policyholders’ Education and Protection Fund, aligns data protection with the Digital Personal Data Protection Act, 2023, and enhances IRDAI’s regulatory powers.
The IFSCA–IRDAI GIFT City Global Reinsurance Summit was described by the Secretary as a vital platform that brings together key stakeholders from the financial services sector.
Insurance and reinsurance were emphasised as crucial in driving India towards its economic objectives, particularly as the country strengthens its role in the global economy.
UNI VK VAN PRP
Please log in to get detailed story.
Tags: #Insurance sector issued over 41crore policies in FY25: DFS
More News

BioAsia 2026 concludes on high note, reinforcing Telangana’s global leadership in TechBio & Life Sciences

18 Feb 2026 | 7:15 PM

Hyderabad, Feb 18 (UNI) BioAsia 2026, the 23rd edition of Asia’s premier life sciences and health-tech forum, concluded here on Wednesday with unprecedented success, firmly cementing Telangana’s position as a global hub for life sciences, TechBio and innovation-led growth.

see more..

India to add USD 26 trn to global economy by 2047: Piyush Goyal

18 Feb 2026 | 6:29 PM

New Delhi, Feb 18 (UNI) India is set to contribute an unprecedented USD 26 trillion to the global economy between now and 2047, Commerce and Industry Minister Piyush Goyal said on Wednesday, describing the scale of expansion as “unparalleled in history” and unlikely to be replicated anywhere else in the world.

see more..

(REOPEN) INDUSTRY TN SATRAC FACILITY TWO LAST CHENNAI

18 Feb 2026 | 5:23 PM

Satrac has outlined a structured expansion roadmap as part of its long-term growth strategy
in India. The company will establish three new manufacturing plants, with a new facility
planned approximately every 30 months, Mr. Bantwal said
.

see more..

SATRAC launches South Asia’s largest Trailer, Truck Body manufacturing facility near Chennai

18 Feb 2026 | 5:18 PM

Chennai, Feb 18 (UNI) Satrac Engineering Private Limited, one of South Asia’s leading
trailer and truck body manufacturers, on Wednesday launched its new state-of-the-art
manufacturing facility at Sripeumbudur, about 40 km from here..

see more..

MakeMyTrip deepens OpenAI collaboration, integrates OpenAI's API into MMT app experience

18 Feb 2026 | 5:16 PM

New Delhi, Feb 18 (UNI) MakeMyTrip, India’s leading online travel company, Wedenesday announced that it will collaborate with OpenAI to deepen AI-led travel discovery to capture high-intent travel queries.

see more..