Non-life insurers expecting to register double-digit growth in 2025

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Non-life insurers expecting to register double-digit growth in 2025 - Business Standard

Quick Summary:

"While health insurance will continue to drive growth in the coming years, there will likely be significant expansion in non-motor and non-health segments, such as pet insurance, liability, professional indemnity, and housing insurance," Future Generali India Insurance Company Ltd managing director & CEO Anup Rau said.

Despite flat general insurance penetration in the country, the non-life insurers are expecting to register double-digit growth in 2025 with a conducive regulatory environment and launch of innovative products catering to specific customer needs, stakeholders said on Thursday.

The industry is also expected to meet this expectation if it receives a favourable outcome on GST relief and a revisit of motor third-party rates, a top private insurer said.