Indian Health Insurance Market- 2011-12
Actual figure of Indian Health Insurance Market for the year ending March 31, 2012 are now available and according to it this market has touched figure of Rs.13345 Crores. The estimates of segment wise figure are :
Group Corporate portfolio and Group Government portfolio (may be Schemes like RSBY,) continue to be a loss making portfolio. Retail portfolio continues to be the group where insurance companies have been successful in reducing the claims figures by following rigid norms. May be the decision of PSU’s to go in for strictness i.e. July 1, 2010 and strengthening of PPN has resulted in good results.
Indications are that State Governments will not increase ( as it was happening 2 years back )their budget for schemes / subsidy. As on now ( May 2012 )Andhra Government has not released cheque of Rs.300 crores towards one of its policy due to shortage of funds. We do hope austerity measures proposed by Ministry of Finance do not affect the growth of this sector.
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