Insurance industry's gross direct premium to cross Rs 3 lakh crore by FY25: ICRA

Moreover, it said, the capital requirement of three PSU general insurers (excluding New India) is estimated at a sizeable Rs 172-175 billion to meet solvency of 1.50 times as of March 2024, assuming 100 per cent forbearance from the regulator. The industry's GDPI grew a sharp 17.2 per cent year-on-year (YoY) in 2022-23 to Rs 2.4 lakh crore with the resumption of economic activity after the waning of Covid-19 infections.

from Banking/Finance-Industry-Economic Times https://ift.tt/9bXlOwd