Best’s Market Segment Report: AM Best Maintains Stable Outlook On India’s Non-Life Insurance Segment

SINGAPORE, Jan 16 (Bernama) -- AM Best has maintained its outlook on India’s non-life insurance segment at stable, citing supportive macroeconomics, as well as insurance demand buttressed by regulatory initiatives and reforms.

India’s non-life segment recorded mid-single-digit premium growth for the fiscal year ending 31 March 2025 (FY2025), according to the Best’s Market Segment Report, “Market Segment Outlook: India Non-Life Insurance.” Growth moderated relative to the prior year given the pricing pressure in the fire segment and slower business expansion in motor insurance. FY2025 also saw changes in accounting for long-term policies, further dampening reported growth. Despite these challenges, momentum is expected to improve over the near term as insurance demand strengthens and regulatory financial inclusion initiatives gain traction.