Direct premiums rose steadily across major lines, while claims growth remained restrained, and fire claims fell, supporting a modest improvement in the loss ratio.
All three segments—general, standalone health and specialised—rose at double-digit year-on-year rates, lifting total gross direct premiums to ₹269bn in November.
EV adoption, premium rate increases, and technology-enabled underwriting are expected to support expansion in the segment through the second half of the decade.
Industry-wide insurance service results jumped 27% YoY, supported by claims stabilisation and fast premium growth across cyber, mortgage, marine, aviation, and consumer credit.
Factors seen to drive the industry's 2026-2030 growth include digital enablement, insurtech investment, AI-driven service models, and expanded telehealth and mental health benefits.
Soft pricing masks a more complex risk landscape as rising insolvencies, geopolitical volatility and emerging tech exposures reshape liability pressures for APAC directors.
