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CareEdge Research Report
The non-life insurance industry has begun FY23 with 23.3% growth in April 2022, the highest in the past seven months, to reach Rs 21,276.3 crore.
The sector’s aggregate growth, which fell 11.1% in April 2020, has come back to pre-Covid-19 levels driven by the health segment.
Crop insurance, however, continued to report a decline in premium numbers.
General Insurers’ April 2022 numbers grew at 23.3% versus 19.8% a year ago. This was more than 1.5 times reported in March 2022.
The continued growth can primarily be attributed to health insurance, followed by motor and fire segments.
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