ICICI Securities: General Insurance - Premium Growth Remains Steady
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ICICI Securities Report
Overall FY21 to-date and August 2020 gross direct premium income grew 3.6% and 10% YoY respectively.
Trend reversal was seen in July 2020 to-date growth, as April 2021 to-date, May 2020 to-date and June 2020 to-date witnessed a decline of 11%,10% and 4% respectively.
ICICI Lombard General insurance Company Ltd. FY21 to-date GDPI growth continues to remain negative (0.4% YoY). August 2020 GDPI growth came in at 12% YoY versus 5% YoY of July 2020.
Bajaj Allianz General Insurance GDPI growth turned negative in August 2020 after posting a robust growth in July 2020 (due to crop segment). August 2020 GDPI declined 9% YoY. FY21 to-date GDPI rose 8% YoY.
Standalone health insurers registered a growth a 26% and 36% YoY in FY21 to-date and August 2020 respectively.
Star health reported a robust growth of 45% in FY21TD.
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