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  • News From Press Life insurance see 5-10x surge in Covid claims in April

    Life insurance see 5-10x surge in Covid claims in April

    Source: ET Jun 15, 2021

    The second wave of Covid has pushed up claims for life insurance companies by 5-10 times for April 2021. This follows 1.9 lakh Covid-related deaths since April 1, 2021, which is 17% higher than lives lost to the pandemic in the entire FY21. 


    “Life insurers, while making Covid reserves last year, assumed 50–100% higher Covid deaths for FY22. Our analysis shows that reserves made by them can cover 1.5–2x the Covid-related deaths in FY21,” said a report by Macquarie. 
     
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