According to reports from CNBC TV18, Ather Energy received regulatory approval on Thursday, October 15, for its wholly owned subsidiary, Ather Insurance Limited, to distribute life, general and health insurance products. The Insurance Regulatory and Development Authority of India (IRDAI) granted the subsidiary a Certificate of Registration to operate as a composite corporate agent under the IRDAI (Registration of Corporate Agents) Regulations, 2015, as amended. The registration became effective from October 15, 2026, subject to payment of the annual fee, unless suspended or cancelled by the regulator. Ather Energy has formally disclosed this approval to the stock exchanges under SEBI regulations, as reported in the company's latest regulatory filing.
As reported by CNBC TV18, the approval covers insurance distribution and servicing, rather than underwriting policies. Ather Energy stated that the approval would help it diversify its revenue streams by leveraging its existing customer base to create recurring revenue opportunities. The company expects the move to enhance the experience of its customers and retail partners by adding insurance distribution and servicing to its business offerings. However, Ather Energy has not disclosed insurer partnerships or quantified the expected financial contribution from the insurance business.
According to Vahan data reported by CNBC TV18, Ather Energy ranked third in India's electric two-wheeler market in September with 30,479 registrations and a 14.71% share. TVS Motor led with 26.06%, followed by Bajaj Auto at 23.36%, while Ola Electric had a 6.49% share. For FY25, Ather Energy reported revenue from operations of ₹2,255 crore, up about 29% from ₹1,753.8 crore a year earlier. The company's net loss narrowed to ₹812.3 crore from ₹1,059.7 crore, while scooter sales rose 42% to 155,394 units from 109,577 in FY24. Non-vehicle sales accounted for 12% of revenue in FY25, compared with 10% a year earlier.
