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India: Group health cover premium rates likely to fall amid high competition

March 13, 2014 - 6:00am


Insurance industry pundits say that group health insurance premium rates in India are unlikely to increase in 2014 mainly because of increasing competition in the segment, The Hindu Business Line reported.

The experts expect average rates to drop by 5% to 10% during policy renewals in April. The group health insurance segment has been a loss-making one for India's nonlife insurers with a total claims ratio of about 110%, the newspaper reported.

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