Insurance Coverage
See signs of rise in insurance coverage post GST cut, says IRDAI's Seth
This story was originally published at 15:47 IST on 7 November 2025
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By Shakshi Jain
MUMBAI – The government is seeing "early signs" of an uptick in insurance coverage following the recent Goods and Services Tax rate cuts, Insurance Regulatory and Development Authority of India Chairman Ajay Seth told Informist on the sidelines of an event here Friday.
"I don't have the number right away with me. But yes, I'm seeing in both the space(s), both health as well as on the life (insurance segments), and of course, so much of boom in auto sales has also led to more business for the industry," Seth said.
The GST rate on all individual life and health insurance policies, including reinsurance of the same, was cut to zero from 18% as part of the recent next-generation GST reforms, effective Sept. 22.
Seth believes the trends must be observed for at least a couple of quarters to understand the complete impact of the GST cuts on business for the industry. "Because at least (in) life (insurance) industry, it is the second half which sees quite a bit of a business, significant part," Seth said. End
Edited by Avishek Dutta
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