Rising claims pose challenge for health insurance sector in India: Jefferies

The health insurance sector in India faced potential challenges due to rising claims and heightened competition, particularly in retail. Conversely, motor insurance showed a positive outlook with an estimated 14% CAGR from FY24 to FY27. The Indian non-life insurance market remained underpenetrated, offering substantial growth opportunities as gross premiums grew at a 12% CAGR over the past five years.