The healthcare scheme announced in the Budget will be a “game changer” for India’s health industry and generate substantial growth in insurers’ premiums, S&P Global Ratings said. It is expected that the insurers will introduce a range of new products with healthier coverage to capitalize on increased tax incentives amid rising medical inflation. A merger of three big public insurers in India will improve the sector’s overall profitability by reducing competition. Less competition will facilitate improved underwriting discipline, enhanced risk retention, and better managed solvency levels in the Indian insurance market.

(Economic Times)