 "Health insurance customers will face higher premiums as insurers implement hikes. HDFC Ergo General Insurance has recently raised premiums for its flagship product, Optima Secure. New India Assurance has also announced upcoming hikes across all its p")
Health insurance premium growth has slowed significantly after touching record highs during the Covid-19 pandemic due to tapering demand from retail consumers amid affordability issues.
According to General Insurance Council data, health insurance premiums grew by 10.44 per cent year-on-year (Y-o-Y) in the Apr-Jan period of FY25 in comparison with 20.79 per cent in the year-ago period. It was around 23.57 per cent in FY23, and 25.89 per cent in FY22.
A sharp decline in premiums from the government-backed schemes and the change in accounting norms mandated by the regulator, effective October last year, have also weighed heavily on the
