The risk reset is being priced — insurance premiums are rising far faster than their own history, across lines and across continents.
| Line | Where | Recent pace vs its own history |
|---|---|---|
| Motor | US | +8.8% vs +2.6% = 3.4× |
| Motor | EU | +6.0% vs +1.4% = 4.1× |
| Health | EU | +4.1% vs +2.3% = 1.8× |
| Health | India | +16%/yr (~3.5× inflation); the rise is price, not volume |
| Home | EU | +4.2% vs +2.4% = 1.7× |
India's standalone health insurers pay back just 69 paise per rupee of premium, vs 100+ for public insurers — a gap held six straight years.
The reading — and its limits
The same regime break shows up across two statistical authorities and two continents — motor sharpest (3.4–4.1×), health and home both clearly accelerating. The US homeowners line is absent because US CPI folds it into shelter (the EU dwelling series fills that gap). The US health-insurance CPI is deliberately not used — its methodology produces wild swings and isn't reliable. India's public-vs-private payout gap is a persistent level, not a decline; India FY25-26 figures are provisional pending the next IRDAI report.
Method US from BLS, EU from Eurostat (motor / health / home), India from IRDAI Annual Reports + MoSPI — all read directly. “Pace” = recent (2022-25) annual rate vs the 2006-19 average.
Computed 22 June 2026