ECONOMY

General Insurance – Q1 Loss Ratios, Solvency Impacted By Covid-19: ICICI Securities

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The heightened loss ratios and in turn lower solvency for India’s health insurers in Q4 FY21/Q1 FY22 are expected to normalise gradually with reduction in Covid-19 cases and increased vaccinations (assuming there are no recurring Covid-19 waves).

We present the quarterly trends in the health insurance segment below, inclusive of Q1 FY22.

Total Covid-19 claims received by insurance companies in FY22-to-date were 1.3 million, of which 1.04 million have been settled.

In terms of value, insurance companies have received total claims worth Rs 146.6 billion in FY22-to-date versus Rs 146.8 billion in FY21.

Out of these claims received, Rs 99 billion has been settled in FY22 till now versus Rs 79 billion in FY21.

Click on the attachment to read the full report:

ICICI Securities General Insurance Update.pdf

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