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India’s Health Insurance Growth Declines: What’s Happening?

India’s Health Insurance Growth Declines: What’s Happening?

India's non-life insurance sector is facing a slowdown, particularly in health insurance, which is the largest segment. In FY25, the growth rate dropped to 6.21% from 12.77% the previous year. Rising premiums, influenced by medical inflation and high claim rejections, have made consumers hesitant to purchase health policies. Notably, government health insurance schemes saw a 12.17% decline in premium income. Insurers are now focusing on younger, healthier customers to maintain profitability. The average healthcare cost has surged, leading to increased claims and further complicating the market's recovery.

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