India is considering a series of health insurance reforms aimed at curbing rising healthcare costs, improving pricing transparency and streamlining claims, according to sources familiar with the discussions.
Life Insurance Corporation of India (LIC) saw a 22.81% year-on-year increase in profit after tax to INR134.9bn ($1.5bn) for the quarter ended 30 June 2026, supported by growth in premium income and a sharp improvement in the value of new business (VNB). Total premium income rose 6.75% to INR1,272.5bn, while individual business premium increased 5.52% to INR754.16bn and group business premium grew 8.61% to INR518.34bn.
India's insurance sector is poised for massive long-term growth, supported by structural reforms, low insurance penetration, and a favourable regulatory environment, but macroeconomic headwinds and profitability pressures remain key risks, said S&P Global Ratings.
Bajaj General Insurance and Swiss Re Corporate Solutions are exploring a commercial insurance partnership in India to bring together the general insurer's strong local market presence with the global reinsurer's risk knowledge and commercial insurance capabilities.
Global insurers are accelerating their expansion plans in India following the country's decision to allow up to 100% foreign ownership in insurance companies, with South Korea's Hanwha Group and South Africa's Discovery among the latest firms exploring opportunities.
Rising health insurance penetration will support the growth of Indian hospital sector, according to a new survey report by Deloitte India.
India is not considering any proposal to make insurers follow healthcare providers' opinion on health insurance claims and health insurance claims will continue to be decided according to insurance policy conditions.
Global asset manager Blackstone is set to enter India's general insurance market through a proposed new venture with former HDFC ERGO Managing Director and Chief Executive Anuj Tyagi.
PartnerRe has appointed Mr Ankur Gupta as CEO of India.
Go Digit Life Insurance has entered India's retirement segment with the launch of the Digit Life Pension Plan. It has introduced two annuity variants designed to cater to different retirement income needs.