General Insurance - Strong Growth In Health, Steady Trends In Motor: Motilal Oswal
SAHIs outperform private multi-line players and overall industry
BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
In February 2023, the gross written premium for the industry grew 20% YoY to Rs 199 billion, led by the health (up 28% YoY) and crop (up 75% YoY) segments.
The marine segment witnessed a strong growth of 24% YoY, whereas the motor segment continued to register a healthy growth of 12.1% YoY.
Standalone health insurers/private multi-line players reported GWP of Rs 23.2 billion/Rs 105.6 billion in Feb-23, up 27%/20% YoY.
On the other hand, pubic sector undertaking players reported 8% YoY growth to Rs 58.2 billion in Feb-23, lower than the industry.
Among key players, ICICI Lombard General Insurance Company Ltd. reported a decline of 5% YoY in Feb-23, mainly on account of a moderation in the motor third party business by 64% YoY (one-off transfer of business to other insurance company).
Star Health and Allied Insurance Company Ltd. saw a healthy 16% YoY growth in GWP.
Bajaj Allianz and New India reported growth of 15% and 3% YoY, respectively, both lower than the industry.
Click on the attachment to read the full report:
Life Insurance - New Business Premium Stumbles In February As Group Premiums Fall Sharply: CareEdge
DISCLAIMER
This report is authored by an external party. BQ Prime 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 BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.