General Insurance - Health Insurers Continues To Lead The Pack In August: ICICI Securities
A nurse examines a patient using a stethoscope at the BMI Weymouth hospital in London, U.K. (Photographer: Chris Ratcliffe/Bloomberg)

General Insurance - Health Insurers Continues To Lead The Pack In August: ICICI Securities

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ICICI Securities Report

Gross domestic premium income for non-life insurers grew 24% YoY in August 2021, of which, private players’ GDPI grew 20% YoY and that for public sector undertaking insurers was up 30% YoY.

Standalone health insurers reported GDPI growth of 26% YoY.

Private GDPI (excluding health insurance) grew 19% YoY. On year-to-date basis, PSU / private / SAHI / total industry has grown by 16.5% / 18.5% / 41% / 17.6%.

Year-to-date motor registrations have grown by 91.5%/42%/181% for passenger cars/two-wheelers and commercial vehicle.

As per media reports, non-life insurers received 1.4 million Covid-19 claims in FY22-to-date amounting to Rs 160 billion.

However, the pace of addition in total claims is heartening as the number of claims added in Aug-21 were 101,000 amounting to $56 million.

Click on the attachment to read the full report:

ICICI Securities General Insurance Monthly August.pdf

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