SAHIs Dominate Retail Market Share Amid Rising Health Insurance

Health insurance continues to drive growth in the general insurance sector, remaining the largest contributor to total gross direct premium income (GDPI).
The market share of Standalone Health Insurance (SAHI) has been on upward trend, reaching 30% of the overall health insurance premium and 56% for retail health insurance premium in FY24.
While SAHIs are monoline focus companies targeting on health insurance, their key focus has been retail health (contributing 73% to SAHIs GDPI) and has been a key driver of business growth.
While SAHIs showcase better underwriting performance due to a retail-focused approach, their return metrics are yet to be in par with private multi-line general insurance companies, which benefit from scale and diversified line of business (LOBs).