Jul 30, 2024 02:01 PM IST
The move comes as a response to rising loss ratios and new IRDAI regulations, the report added.
New India Assurance will increase premiums by 10% on nine health insurance products starting November 1, 2024, CNBC-TV18 reported citing sources. The move comes as a response to rising loss ratios and new IRDAI regulations, it added. This price increase is in the insurer’s 25 percent of its health portfolio, sources told the outlet.
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Although, there will be no hike in prices in New India Assurance’s flagship health products. New India’s health portfolio is 53 percent of its total book.
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Following the report, shares of New India Assurance Limited were trading more than 3 per cent at ₹289.35 apiece on BSE. Shares of General Insurance Corporation of India (GIC RE) were also up 5 per cent to ₹422.80 apiece after the reports.