The reinsurance rates are on upward trajectory and hopefully in the next couple of months it will be finalized, said Prashant Tripathy, MD and CEO, Max Life Insurance.
Tripathy expects to do a rate increase sometime in the near future. However, it will be a marginal increase, he said.
The company posted its Q3FY22 earnings. Profit after tax (PAT) is down 60 percent and value of new business margin has contracted to around 25 percent.
For the full interview, watch the accompanying video.