Economy · India
ICICI Life Insurance Defends Credit Cover Amidst Commission Cut Proposal
ICICI Life Insurance reported a 25% year-on-year increase in net profit for the second quarter, reaching Rs 374 crore, with premium income rising 16%. The company's management defended its credit-linked protection plans, emphasizing their role as a safety net for low-income borrowers. This defense comes as the Insurance Regulatory and Development Authority of India (Irdai) considers a proposal to cap lender commissions at 2%.
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- Centre (2): Mint, The Financial Express
- International (1): Reuters