The move extends the Insurance Authority's remuneration framework to the bancassurance channel, requiring banks to spread the bulk of their commissions over at least five years.
Persistent underwriting losses and high distribution costs weigh on India’s general insurers, with direct models and customer ownership seen as key to improving economics.
LIC’s FY2026 performance was driven by strong growth in annual premium equivalent (APE) and a sharp improvement in value of new business (VNB), supported by a rising contribution from higher-margin non-par...
The parties have six months to conclude negotiations and market analysts believe a deal appears more credible than RHB Bank’s earlier, unsuccessful attempt in 2019.
Under the proposed model, channels that require greater involvement in customer onboarding, advice, and ongoing servicing are expected to attract relatively higher payouts.
