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General Insurance - Strong July; Health Insurers' Outperformance Continues: ICICI Securities

General Insurance - Strong July; Health Insurers' Outperformance Continues: ICICI Securities

<div class="paragraphs"><p>Filling insurance forms. (Photographer: Akio Kon/Bloomberg)</p></div>
Filling insurance forms. (Photographer: Akio Kon/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.

ICICI Securities Report

Gross domestic premium income for non-life insurers grew 19.5% YoY in July 2021, of which, private players’ GDPI grew 20% YoY and that for public sector undertaking insurers was up 18.7% YoY.

Standalone health insurers reported GDPI growth of 27% YoY.

ICICI Lombard General Insurance Company Ltd./Bajaj General Insurance grew 8.5/33%YoY in July 2021.

In terms of market share, ICICI Lombard's market share dipped to 5.9% in July 2021 compared to 10.2/7.6/7% in April/May/ June 2021, respectively.

Year-to-date motor registrations have grown by 42/22/48% for passenger cars/two-wheelers and commercial vehicle.

Total Covid-19 claims received by insurance companies in FY22-to-date were 1.3 million of which 1.04 million claims have been settled.

Click on the attachment to read the full report:

ICICI Securities General Insurance Monthly Aug21.pdf

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