Secretary, DFS Chairs Review Meeting on Financial and Business Performance of Public Sector General Insurance Companies (PSGICs)

A performance review meeting of Public Sector General Insurance Companies (PSGICs) was chaired by Shri Sanjay Lohiya, Secretary, Department of Financial Services (DFS), Ministry of Finance. The meeting reviewed financial and business performance for FY 2025–26, including underwriting performance across lines of business, Key Performance Indicators (KPIs), digital initiatives, and operational issues. The Secretary advised PSGICs to focus on profitable lines, reduce the Incurred Claim Ratio, accelerate digitalisation, improve insurance penetration and density, reduce protection gaps, establish a robust and standardised quarterly KPI framework, and ensure expeditious and quality grievance redressal.