News about insurance

Nifty fell 383 points to close at 23,063, its lowest since 6 April 2026 and its biggest one-session percentage drop since 8 July 2026, after a 225-point gap-down opening. PB Fintech (down 36%), Turtle mint (down 20%) and MFSL (down 10%) slumped after IRDAI issued a consultation paper proposing sweeping changes to insurance distribution. Nifty Midcap 100, Smallcap 100 and Microcap fell 2.25%, 1.53% and 1.48%, while the BSE advance-decline ratio dropped to 0.51. The rupee lost 21 paise to close at 95.95. Technically, the index broke below the 23,100-23,600 consolidation zone, with support seen near 22,700 and resistance at 23,300.

Bandhan Financial Services (BFSL) will explore health insurance opportunities once its recent acquisitions of IDFC Mutual Fund, IDFC Asset Management Company and Aegon Life Insurance stabilise, chairman Chandra Sekhar Ghosh told PTI. He said the immediate focus is consolidating existing businesses and did not give a timeline for entering health insurance. Ghosh said a composite licence would make it easier to enter the sector, which current Indian insurance law does not permit. The group is also looking at investment banking and wealth management, where it has no presence.

Medicare open enrollment runs until Dec. 7 for plans effective Jan. 1, and several changes could raise costs. The Part D out-of-pocket cap rises to $2,400 from $2,100 in 2026, the standard deductible rises from $615 to $700, and the Trump administration is ending a temporary Part D premium subsidy. KFF estimates that AARP Part D enrollees who don't change plans will see monthly premiums rise by $50 or more in all 50 states, more than $75 in 37 states and more than $100 in four states, while the AARP Medicare Rx Saver plan will rise by $50 or more in 33 states. Together the two plans have more than 2 million members, and 15 drugs including Ozempic, Rybelsus and Wegovy will get Medicare-negotiated prices starting Jan. 1.

SteelPeak Wealth LLC raised its UnitedHealth Group stake by 41.9% in the third quarter, buying 13,533 shares to reach 45,834 shares worth $16,825,000, according to a 13F filing with the SEC. Institutional investors and hedge funds hold 87.86% of the stock. UnitedHealth reported third-quarter adjusted EPS of $4.69 versus a $4.14 consensus and raised its 2026 adjusted EPS outlook to at least $20.50. Analysts are divided: JPMorgan raised its target to $524 and Goldman Sachs reportedly raised its target to $506, while TD Cowen kept a “hold” rating with a $402 target. The article also flags falling membership and high medical costs as concerns, and notes that CEO Patrick Conway sold 1,169 shares at $390.00 on August 21.