General Insurance Sector Check - FY21 GDPI Grew 5%  Led By Fire, Health: ICICI Securities 
A job seeker fills out an application form during a United States Postal Service (USPS) recruitment event in Boston, Massachusetts, U.S. (Photographer: Shiho Fukada/Bloomberg)

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

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.

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


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.