Health insurance premiums could rise further: New India Assurance

The New Asian nation Assurance Company might increase premiums for cluster insurance so as to cut back its loss ratios during this section, aforementioned G Srinivasan, Chairman, and manager.

The company, that is that the largest public sector general underwriter is specializing in claims management and looking out to boost claim magnitude relation by appointing additional doctors and scaling up its in-house Third Party Administrator (TPA).

“We square measure centered on profitability by rising underwriting and claims management,’’ he said.

It had already raised premiums in its individual and floater insurance schemes between ten and four-hundredth, throughout the simply terminated financial year, aforementioned Srinivasan.

For the year terminated March thirty-one, 2018 the corporate brought down its ratio within the insurance section to 103% from one hundred and fifteenth within the previous year. The ratio within the cluster health section conjointly reduced to a hundred and tenth from a hundred and twenty-fifth.

In the simply terminated year, the corporate denote profit when a tax of Rs a pair of,201 crores, as compared to Rs one,008 crores. the corporate declared a bonus of 1:1 and dividend of Rs five per share.

For the quarter terminated March thirty-one, 2018, the corporate denote profit when the tax of Rs 336 crore, against Rs 553 large integer. This was as a result of the corporate had associate degree accounting about-face within the fourth quarter of last year.