Slowdown in health and motor segment drag non-life premiums in Feb

According to General Insurance Council data, general insurers, who operate in multiple business lines, witnessed about 5 per cent YoY drop in premiums to Rs 17,399.3 crore in February

Premiums of non-life insurance companies dropped 2.82 per cent year-on-year (Y-o-Y) in February to Rs 21,747.57 crore from Rs 22,378.12 crore in the year-ago period, due to changes in accounting norms and a slowdown in premium growth in the health and motor segments.

 

According to General Insurance Council data, general insurers, who operate in multiple business lines, witnessed about a 5 per cent Y-o-Y drop in premiums to Rs 17,399.3 crore in February, while premiums of standalone health insurers rose 7.80 per cent to Rs 3,234.6 crore.

 

Growth in non-life insurance premiums has taken a hit ever since the insurance