Ather Energy has received regulatory approval on Thursday, October 15, for its wholly owned subsidiary, Ather Insurance, to distribute life, general and health insurance products.
The approval will allow the electric two-wheeler maker to expand into insurance distribution and explore additional revenue opportunities through its existing customer base.
Ather Energy said the Insurance Regulatory and Development Authority of India (IRDAI) had granted Ather Insurance a Certificate of Registration to operate as a composite corporate agent, according to exchange filing.
The registration was granted under the IRDAI (Registration of Corporate Agents) Regulations, 2015, as amended. It allows the subsidiary to distribute and service life, general and health insurance products.
Ather Energy looks to diversify revenue streams
Ather Energy said the approval would help it diversify its revenue streams by leveraging its existing customer base to create recurring revenue opportunities.
The company also 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 a specific revenue target or quantified the expected financial contribution from the insurance business.
Registration effective October 15
According to the filing, IRDAI granted the Certificate of Registration to Ather Insurance on October 15, 2026. The registration is effective from that date, subject to payment of the annual fee, unless suspended or cancelled by the regulator.
Ather Energy disclosed the approval to the National Stock Exchange of India and BSE under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The filing does not specify the subsidiary’s planned product offerings, launch timeline, distribution arrangements or projected earnings from insurance-related activities.