Motor TP reserve adequacy without premium hikes
Rising severity in court awards and lack of motor TP premium increases for 3-4 years may require further reserve strengthening, pressuring claims ratios.
CHOLAHLDNG / Q1-FY26 / risks
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Cholamandalam Financial Holdings · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Crop insurance premium loss of ~₹500 crore
Loss of crop insurance business in Maharashtra, Bengal, and Odisha to AIC will reduce annual premium by ~₹500 crore, impacting top-line growth.
Health insurance loss ratio remains elevated
Health loss ratios continue to be high (~80%) despite corrective pricing actions, partly due to reduced PA volumes and conservative provisioning.
Competitive intensity in motor insurance
High discounts and payouts in the motor segment may pressure underwriting margins if the company chases top-line growth.