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CareEdge Research Report
The non-life insurance industry reported a slower growth rate of 5.5% in November which was half of the rate reported in October 2021 but was significantly higher than the 2.3% reported in November 2020.
Non-life insurance premium reached Rs 15,742.9 crore for the month of November 2021 compared to Rs 14,919.5 crore in November 2020.
The growth has continued to be driven by the health segment; with fire and the personal accident segments also emerging as significant contributors of growth for the month of November 2021.
However, the crop insurance segment has continued to reduce and reported a decline of 43.9% for the month of November 2021 versus the drop of 10.9% in October 2021 and 10.3% in November 2020.
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