New India Assurance set to hike premiums by up to 10% in certain health insurance products; stock rises

Notably, New India's health portfolio is 53 percent of its total book.

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New India Assurance is set to increase premiums by 10 percent on certain health insurance products, CNBC-TV18 reported citing sources.

This price increase is in the insurer's 25 percent of its health portfolio, said sources, adding that there is no hike in prices in Its flagship health products. Notably, New India's health portfolio is 53 percent of its total book.

Post the report, shares of New India Assurance Co Limited were trading over 3 percent at Rs 289.35 apiece on BSE around 13:30 hours IST.

Shares of General Insurance Corporation of India (GIC RE) were also up 5 percent to Rs 422.80 apiece following the news on hike in premiums.

This is a developing story. Please check back for more updates