India pension fund market was valued at US$ 38.23 billion in 2023 and is projected to hit the market valuation of US$ 132.83 billion by 2032 at a CAGR of 15.13% during the forecast period 2024–2032.
This article explores the latest developments in the life insurance sector, examines factors influencing premium rates, and highlights the role of term insurance in providing cost-effective coverage.
While the non-life industry settled 81.60% of the total claims received, it only paid 35.47% of the total claim amount requested during FY 2023, a massive difference of 44.64%.
New India Assurance and Aditya Birla Life Health Insurance were top performers in settling health insurance claims for FY23, with New India paying over 95% of claims.
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In November, general insurers premiums rose 1.41%, but the market share of this segment decreased slightly to 85.1%, down from 85.86% in the year-ago period.