Reinsurance buffers crash claim, Tata AIG logs Rs 1,008 crore profit

MUMBAI: Tata AIG Common Insurance coverage reported a internet profit of Rs 1,008 crore for FY26 regardless of going through the most important declare in Indian aviation historical past final 12 months. The corporate’s books had been protected on account of its conservative coverage of reinsuring the majority of enormous dangers.The Common Insurance coverage Company had estimated claims of over $400 million final 12 months from the Air India Ahmedabad crash. Since then, reinsurers have settled some claims. Tata AIG, which was the lead insurer, had a forty five% share of the chance. “We absolutely offered for it in that very same quarter itself. Internet of reinsurance, our publicity was lower than Rs 50 crore,” mentioned Amit Ganorkar, MD & CEO, Tata AIG Common.The corporate’s fairness capital and reserves stood at Rs 6,545 crore as of end-March 2026. The whole publicity taken by the corporate was lower than 1% of its internet price. Nonetheless, the declare did influence the corporate’s solvency ratio by 10 foundation factors, bringing it to 1.91.Tata AIG is the third-largest non-public insurer, with a gross premium of Rs 20,749 crore in FY26, and the second-largest non-public insurer in motor insurance coverage. Additionally it is the second-largest insurer in industrial strains. Nonetheless, in medical insurance, its market share is far decrease, rating eighth amongst non-public gamers.“Well being is our fastest-growing phase. Our retail well being ebook is operating at roughly Rs 200–250 crore per 30 days, and we wish to increase. Well being premium contribution this 12 months grew at about 22–23 p.c,” mentioned Ganorkar. “Our annual GWP final 12 months for well being was roughly Rs 4,500 crore, reflecting round 40 p.c development,” he added.“Our goal is for well being to change into 20–23 p.c of our general premium combine, which might convey us consistent with the broader trade. We’re at the moment aspiring to be within the high 5 in well being,” mentioned Ganorkar.The corporate is utilizing know-how extensively to enhance effectivity in medical insurance. “In well being, AI is getting used to learn discharge summaries, predict sickness patterns, conduct well being assessments by imaging, and supply digital medical second opinions by digital video session.”Ganorkar added that inside two years, the corporate expects small-value claims to maneuver to completely AI-generated settlements, with no human intervention required. The corporate has additionally launched a canopy focusing on these with medical insurance from employers. For the preliminary interval, the duvet acts as a top-up over the employer’s cowl and may subsequently be renewed as a complete cowl from the bottom quantity.