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ICICI Securities Report
Aggregate industry monthly non-life insurance premium growth has recovered from the lows of March/April driven by fire (36% growth in FY21TD) and sharp uptick in health premiums (9%, 9% and 18% growth in May, June and July) while motor premiums are slowly inching up.
The absence of price hike will weigh upon the motor third party premiums.
ICICI Lombard General Insurance Company Ltd. has outperformed in motor third party/own damage as well as at an aggregate level ex crop.
Standalone health insurers continue to outperform in the health segment. Health can surpass motor to become the leading segment in general insurance based on the recent growth trend.
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