Health portfolio continues to drive premium growth of non-life insurers

The health portfolio of general and standalone health insurers is driving the premium growth of non-life insurers. In the April-July period of FY22, the health portfolio has grown 34.2 per cent, which is significantly higher than the 9.9 per cent growth seen in the same period last year.
 
While retail health grew by 24.8 per cent, group health recorded a 23 per cent rise in the April-July period. Notwithstanding the growth in health premiums, insurers have seen elevated levels of Covid claims in the first three months of the financial year due to the second wave of the pandemic.