India, IRDAI and Insurance penetration

Insurance penetration in India dips to 2.8% despite premium growth: Irdai
Total premiums across all insurance categories reached Rs 11.19 trillion in 2023-24 while insurers paid out Rs 7.66 trillion in claim settlements, Irdai said in its annual report
How well does health insurer settle claims? Latest Irdai incurred claim ratio of general, health insurance companies in India
If you are planning to buy a new insurance policy or port your existing health insurance policy to a new insurer, do remember to check the latest claim settlement ratio of all insurers before finalising one.
IRDAI annual report: India’s insurance penetration dips from 4% to 3.7% in 2023-24
Life insurance penetration in India declined from 3 percent in 2022-23 to 2.8 percent in 2023-24, while general insurance penetration remained unchanged at 1 percent
Non-life insurance claims ratio dropped a bit to 82.52% in FY24: Irdai
According to Irdai's Annual Report 2023-24, the non-life insurance sector underwrote a total direct premium of ₹2.90 lakh crore during the period, marking a growth of 12.76% from the previous year.
Claims ratio of non-life insurers dips to 82.52% in FY24: Irdai report
Net incurred claims to net earned premium (claims ratio) of non-life insurance industry stood at 82.52 per cent during 2023-24 as against 82.95 per cent in the preceding fiscal year, as per the Irdai's annual report.
India’s insurance penetration dips, but density inches up
India's insurance penetration drops to 3.7% in 2023-24, despite IRDAI's efforts, with life insurance demand declining.
Non-Life Insurance Sector Sees Growth In Premiums And Improved Claims Ratio In 2023-24: IRDAI
Public sector general insurers saw an 8.88% increase in their contribution, rising from Rs 82,891 crore in 2022-23 to Rs 90,252 crore in 2023-24.
Non-life insurers' profit in green in FY24 after 2 straight years of losses
The aggregate net profit of the non-life insurance industry, which includes general insurers, standalone health insurers, and specialised PSU insurers, stood at Rs 10,119 crore in FY24. This compares to a net loss of Rs 2,
Health insurance: Claim rejections by insurance companies went up by 19.10% in FY24
Claims disallowed by insurance companies amounted to Rs 15,100 crore, up from Rs 12,754 crore in the previous year.
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Insurers report rise in commission expenses
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Claim rejections by health insurance companies rise by 19.10% to Rs 26,000 crore
Insurance companies disallowed and repudiated health policy claims worth Rs 26,000 crore during the year ended March 2024, ...
Micro insurance premium in life segment tops Rs 10k cr in FY24
The new business premium (NBP) in life insurance’s micro-insurance segment in 2023-24 surpassed Rs 10,000 crore for the first ...