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Time of India
8 hours ago
- Business
- Time of India
India's non-life insurance premium rises 5.2% in June 2025: Report
India 's non-life insurance industry registered a 5.2% increase year-on-year in premiums to Rs 23,422.5 crore in June 2025, according to a report released by CareEdge Ratings on Wednesday. This was lower than the 8.4% growth recorded in June 2024. Explore courses from Top Institutes in Select a Course Category Operations Management CXO Degree Finance others Product Management MCA Data Science Public Policy Project Management Technology Digital Marketing Artificial Intelligence MBA Others Data Analytics PGDM Cybersecurity healthcare Design Thinking Leadership Data Science Healthcare Management Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details "The transition to the 1/n rule has impacted the industry's performance, resulting in a slowdown in health insurance growth to single digits and muted growth in the passenger vehicle (PV) segment, which was partially offset by renewals in the commercial lines," the report noted. Despite the moderation in premium growth, non-life insurance premiums crossed the Rs 3-lakh crore mark in FY25, driven by supportive regulations, rising insurtech adoption, accelerating digitalisation, and an expanding middle class, the report said. Moreover, the government's Bima Trinity push is poised to accelerate growth in the non-life insurance sector. Further, standalone health insurers are expected to maintain their dominance in the retail health space. Live Events "At the same time, the trajectory of motor insurance will closely follow vehicle sales and the upcoming revisions to third-party tariffs. The proposed roll out of composite licences could reshape the competitive landscape in the medium term," Priyesh Ruparelia, Director of CareEdge Ratings, said. "However, rising competition and global geopolitical uncertainties will remain crucial watchpoints for the sector," Ruparelia added.
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Business Standard
8 hours ago
- Automotive
- Business Standard
India's non-life insurance premiums rise 5.2% in June 2025: CareEdge
India's non-life insurance industry registered a 5.2 per cent increase year-on-year in premiums to Rs 23,422.5 crore in June 2025, according to a report released by CareEdge Ratings on Wednesday. This was lower than the 8.4 per cent growth recorded in June 2024. "The transition to the 1/n rule has impacted the industry's performance, resulting in a slowdown in health insurance growth to single digits and muted growth in the passenger vehicle (PV) segment, which was partially offset by renewals in the commercial lines," the report noted. Despite the moderation in premium growth, non-life insurance premiums crossed the Rs 3-lakh crore mark in FY25, driven by supportive regulations, rising insurtech adoption, accelerating digitalisation, and an expanding middle class, the report said. Moreover, the government's Bima Trinity push is poised to accelerate growth in the non-life insurance sector. Further, standalone health insurers are expected to maintain their dominance in the retail health space. "At the same time, the trajectory of motor insurance will closely follow vehicle sales and the upcoming revisions to third-party tariffs. The proposed roll out of composite licences could reshape the competitive landscape in the medium term," Priyesh Ruparelia, Director of CareEdge Ratings, said. "However, rising competition and global geopolitical uncertainties will remain crucial watchpoints for the sector," Ruparelia added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
09-06-2025
- Business
- Business Standard
Three months after Panda's exit, Irdai chairperson post remains vacant
Absence of a regulator stalls key insurance reforms including Bima Trinity, composite licence, and risk-based capital framework Subrata Panda Aathira Varier Mumbai Listen to This Article Nearly three months have passed since Debasish Panda completed his term as Chairperson of the Insurance Regulatory and Development Authority of India (Irdai), yet the position remains vacant. The Ministry of Finance had invited applications for the post, with the last date for submission being April 6. However, the government is yet to make an appointment. Panda, who took charge as Irdai Chairperson in March 2022, had himself been appointed nearly 10 months after the departure of his predecessor, Subhash Chandra Khuntia. With Panda completing his term on March 13 this year, several initiatives he had spearheaded now
