New India Assurance to raise health insurance prices by 10%: Report

New India Assurance will increase premiums by 10% on nine health insurance products starting November 1, 2024, CNBC-TV18 reported citing sources. The move comes as a response to rising loss ratios and new IRDAI regulations, it added. This price increase is in the insurer’s 25 percent of its health portfolio, sources told the outlet. 
Although, there will be no hike in prices in New India Assurance’s flagship health products. New India’s health portfolio is 53 percent of its total book.
Following the report, shares of New India Assurance Limited were trading more than 3 per cent at ₹289.35 apiece on BSE. Shares of General Insurance Corporation of India (GIC RE) were also up 5 per cent to ₹422.80 apiece after the reports.