Moody's Ratings announced Monday it projects India's economy will grow 7.3% in Fiscal Year 2025, which ends in March 2026.
This robust economic expansion is anticipated to increase average household incomes.
Higher incomes should stimulate greater demand for insurance and other financial protection products.
The report suggests the Indian insurance sector is well-positioned to benefit from sustained premium growth.
Rising risk awareness and increased digitization contribute to this positive outlook.
Tax changes and planned reforms within the state-owned insurance sector also drive growth.
These factors are expected to gradually improve the industry's profitability.