IndusInd General Insurance is an Indian general insurance company. It is associated with the IndusInd group, which also includes IndusInd Bank, one of India's private sector banks. The company operates in the non-life insurance segment, which in India covers categories such as motor, health, fire, marine, travel, liability and miscellaneous insurance products.
| Name | IndusInd General Insurance |
|---|---|
| Industry | General (non-life) insurance |
| Country | India |
| Sector | Financial services |
| Associated group | IndusInd |
The general insurance industry in India is regulated by the Insurance Regulatory and Development Authority of India (IRDAI), established under the IRDA Act, 1999. The sector was opened to private participation following the recommendations of the Malhotra Committee, ending the monopoly held by the four public sector insurers that had been formed after the nationalisation of general insurance in 1972 under the General Insurance Business (Nationalisation) Act.
Since liberalisation, a number of private insurers, including bank-promoted and industrial group-promoted entities, have entered the Indian general insurance market. IndusInd General Insurance is part of this broader landscape of private participation in non-life insurance.