India’s GI firms record healthy premium growth

October 29 2018 by InsuranceAsia News Staff

India’s general insurers registered a year-on-year growth of 12.8% of gross written premiums during the first six months of the financial year.

According to the Insurance Regulatory and Development Authority of India, GWP in the sector reached Rs818.24 billion (US$11.15 billion) during the period; that compares favourably with GWP of Rs725.46 billion during the same period last year.

Segments such as aviation, health, motor third party and personal accident cover contributed performed strongly, while engineering and fire insurance had a lacklustre performance.

While Oriental Insurance enjoyed the highest growth of 15.65%, others, including United Indian Insurance and National Insurance saw negative growth.

New India, the largest public sector general insurance firm in the country, still dominated the market.

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