India’s life insurers kicked off the financial year with strong growth, led by group business expansion that boosted both premium collections and overall coverage levels.
Persistent underwriting losses and high distribution costs weigh on India’s general insurers, with direct models and customer ownership seen as key to improving economics.
Single premium sales jumped 36.5%, while banks remained the largest distribution channel for new business, accounting for S$593m (US$466m) of weighted premiums.
Narelle 2, Fina, and Koji were the season’s largest declared events by estimated ultimate loss, with ARPC citing complex, geographically dispersed impacts.
