Chennai, Jan. 28 -- Credit rating agency CARE Ratings said the medium-term outlook for India's non-life insurance industry remains stable, supported by regulatory reforms, improving underwriting discipline, and steady economic momentum.
Growth, however, is expected to moderate from recent peaks, partly reflecting a higher base in FY25 and normalisation across select segments.
Accordingly, based on nominal GDP growth trends, historical premium growth patterns, segment-wise outlook, and industry interactions, CareEdge Ratings estimates premiums will grow at 8-11% over the medium term.
Meanwhile, unforeseen market disruptions could weigh on this growth. Health insurance (including personal accident) would continue to remain the largest segm...