Moody's Ratings reports a positive outlook for India's non-life insurance sector. It cites government initiatives to enhance underwriting discipline and profitability among state-owned insurers.
Reforms include potential mergers and recapitalization. These measures should reduce pricing pressures historically driven by a focus on market share over profits.
Moody's forecasts robust economic growth for India. It projects a 7.3% expansion in fiscal year 2025.
The economic upswing should increase average incomes and stimulate higher demand for insurance products.
Total insurance premiums surged 17% in the first eight months of 2025. This marks a sharp increase from the 7% growth recorded in the previous fiscal year.