News From Press Insurers report rise in commission expenses

Insurers report rise in commission expenses

Source: ET 13 hours ago

Mumbai: The insurance industry saw a significant jump in commission expenses in FY24 after the sector regulator removed caps on payouts. Life insurers saw commission expenses increase 22% while general insurers saw commission expenses double in FY24. This follows the Insurance Regulatory and Development Authority of India's (IRDAI) decision to remove commission caps in April 2023, showed the latest IRDAI Annual report.

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