General Insurance Sector Check - FY21 GDPI Grew 5%  Led By Fire, Health: ICICI Securities 
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General Insurance Sector Check - FY21 GDPI Grew 5% Led By Fire, Health: ICICI Securities 

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ICICI Securities Report

FY21 overall industry gross direct premium income grew 5% YoY led by strong growth in fire and health segments, offset by a decline in motor and crop segments.

Excluding-crop industry GDPI grew 6.7% YoY in FY21.

On a segmental basis, fire/health grew 27% /13.5%, while motor/crop declined 2% / 3.4%, respectively.

We continue to remain constructive on non-life insurance space driven by -

  1. an expected recovery in motor premiums,
  2. expected price hike in motor third party in FY22,
  3. moderating Covid-19 claims and
  4. strong outlook for health premiums.

Click on the attachment to read the full report:

ICICI Securities General Insurance Monthly Update.pdf

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