All four public sector insurers incurred losses of ₹26,364 crore in the health insurance portfolio for the last five years due to higher claims in group policies, a CAG report said.
“The losses of the health insurance business of PSU insurers either wiped out/decreased the profits of other lines of business or increased the overall losses,” an audit report by CAG tabled in Parliament recently said.
The aggregate loss of the four PSU insurers — New India Assurance Company Limited (NIACL), United India Insurance Company Limited (UIICL), Oriental Insurance Company Limited (OICL) and National Insurance Company Limited (NICL) — was ₹26,364 crore during 2016-17 to 2020-21.
.jpg?w=600)
