General Insurance Update - ICICI Lombard Outperforms, Motor Dip A Damper In April: ICICI Securities
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ICICI Securities Report
Gross domestic premium income for non-life insurers grew 22% YoY in April 2021, of which, private players’ GDPI grew 28.5% YoY and that of their public sector undertaking counterparts grew 14.8% YoY, respectively.
However, YoY comparison has a benefit of low base because April 2020 was impacted by Covid-19 led lockdown.
Hence, we have compared the growth of April-21 GDPI over average monthly GDPI of H2 FY21.
ICICI Lombard General Insurance Company Ltd.’s April-21 GDPI of Rs 17.7 billion was 41% higher compared to H2 FY21 monthly average of H2 FY21.
Auto registrations dipped 22-27% across segments on month-on-month basis.
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