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General Insurance - Premium Grew By ~24% In August, Led By Strong Performance Across Segments: Motilal Oswal

General Insurance - Premium Grew By ~24% In August, Led By Strong Performance Across Segments: Motilal Oswal

A man fills out an application form. (Photographer: SeongJoon Cho/Bloomberg)
A man fills out an application form. (Photographer: SeongJoon Cho/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Private players reported a gross written premium growth of 18.4% YoY in August 2021 (two-year compound annual growth rate of 13.6%), while the industry posted a growth of 24.1% YoY (two-year CAGR of 17.1%).

In FY22 year-to-date, private players’ GWP grew by 14.1% YoY (two-year CAGR of 7.2%).

The same for the industry grew by 16.9% YoY (two-year CAGR of 10%).

Overall GWP growth was driven by strong performance across all segments, with marine/motor own damage/health/crop growing by 38.6%/11.2%/24.5%/40.4%. 

On a FY22 year-to-date basis, Star Health and Allied Insurance Company Ltd. saw the highest market gain of 54 basis point at 4.9%.

Among private players, ICICI Lombard General Insurance Company Ltd.’s market share stood at 6.9% (down 40 bps YoY)

Click on the attachment to read the full report:

Motilal Oswal General Insurance Sector Update.pdf

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