The health insurance segment grew by 24.4 per cent in the first half of FY24 to Rs 54,713.52 crore from Rs 43,981.54 crore in H1FY23, driving the growth of the overall non-life insurance industry. The surge in the price of group health premiums acted as a key contributing factor.
In the first half of financial year 2023, the health insurance segment had registered a growth of 18.92 per cent from the year-ago period.
In the health segment, the premium of the group health segment rose by nearly 27 per cent in H1FY24 to Rs 29,537.57 crore from Rs 23,316.04 crore in the corresponding previous financial year. Whereas, the retail health premium rose by 18.39 per cent to Rs 18,784.82 crore from Rs 15,867.31 crore across the same time period.
