Non-Life Insurance Premiums - Crop Insurance Declines, Cumulative Growth Remains Robust: CARE Ratings
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CARE Ratings Research Report
The non-life insurance industry broke its monthly growth and reported a drop of 2.8% in its monthly premiums in September 2021, however this decrease was lower than the fall of 5.2% reported in September 2020 and is attributed mainly to decline in crop insurance by 29.7%.
Non-life insurance premium reached Rs 22,226.4 crore for the month of September 2021 compared to Rs 22,870.8 crore in September 2020.
The growth has continued to be driven by the health segment; with fire and the PA segments also emerging as significant contributors of growth for the month of September 2021.
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