Ather gets insurance nod, eyes income beyond scooter sales

BENGALURU: Electric scooter maker Ather Energy is expanding its footprint into insurance distribution, seeking to earn recurring income from its customers through a subsidiary that has secured regulatory approval.Insurance regulator Irdai granted Ather Insurance, its wholly owned subsidiary, registration as a composite corporate agent on October 15. This allows the company to distribute and service life, general and health insurance policies, Ather said in a stock exchange disclosure.The licence permits Ather Insurance to act as an intermediary selling policies issued by insurers. It does not authorise the subsidiary to underwrite insurance or take on the risks covered by those policies.Ather said the business would help broaden its sources of revenue by tapping its existing customer base. It also expects the move to improve the experience of customers and retail partners. The disclosure did not name insurance partners, give a launch timeline or estimate the income the business could generate.The registration took effect on October 15 and will continue subject to payment of an annual fee, unless suspended or cancelled by Irdai.Insurance will add to Ather’s businesses beyond vehicle sales. Software subscriptions, charging, accessories, spares and servicing together contributed 13% of its total income in FY26. The company reported total income of Rs 3,823 crore for the year, up 66%.Ather remained loss-making, although its annual net loss narrowed to Rs 517.2 crore from Rs 812.3 crore in FY25.You use AI every day. Now get your AI Quotient. Take the AIQ test.