General Insurance - Health Insurers Continues To Lead The Pack In August: ICICI Securities
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 24% YoY in August 2021, of which, private players’ GDPI grew 20% YoY and that for public sector undertaking insurers was up 30% YoY.
Standalone health insurers reported GDPI growth of 26% YoY.
Private GDPI (excluding health insurance) grew 19% YoY. On year-to-date basis, PSU / private / SAHI / total industry has grown by 16.5% / 18.5% / 41% / 17.6%.
Year-to-date motor registrations have grown by 91.5%/42%/181% for passenger cars/two-wheelers and commercial vehicle.
As per media reports, non-life insurers received 1.4 million Covid-19 claims in FY22-to-date amounting to Rs 160 billion.
However, the pace of addition in total claims is heartening as the number of claims added in Aug-21 were 101,000 amounting to $56 million.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.