Business · Updated 16 Oct, 12:05 pm IST
Ather subsidiary gets IRDAI licence to distribute and service insurance
Why it matters for readers: It explains why some EV makers are starting to sell insurance as part of their customer offerings.
- IRDAI granted Ather Insurance a certificate of registration on October 15 to act as a corporate agent (composite).1
- The registration covers life, general and health insurance but is for distribution and servicing rather than underwriting policies.1
- Ather says the move aims to diversify its revenue streams and generate recurring income from existing customers.1
- The registration remains valid from October 15 subject to annual fee payment and regulatory conditions.1
- Ather ranked third in India's electric two-wheeler market in September, with 30,479 registrations and a 14.71% share, per Vahan data cited by the company.1
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