General Insurance Tracker - Health, Motor Continue To Drive Premium Growth In July: Motilal Oswal

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 July 2023, the gross written premium for the industry grew 13% YoY to Rs 265 billion, fueled by the health (up 33% YoY) and motor (up 15% YoY) segments. The growth in health segment was propelled by exponential growth in the government health business, which spurted 93% YoY. In July-23, marine and commercial lines reported flattish YoY growth. Standalone health insurers/private multi-line players reported a GWP of Rs 26.7 billion/Rs 146.6 billion in July-23, up 26%/24% YoY. Conversely, public sector undertaking players registered a 5% YoY growth to Rs 84.8 billion, much lower than the industry. Among key players, ICICI Lombard General Insurance Company Ltd. grew 22% YoY in July-23 (higher than the industry growth), whereas Star Health and Allied Insurance Company Ltd. reported a GWP growth of 17% YoY. Bajaj Allianz clocked a GWP growth of 51% YoY (aided by exponential growth in government health business), whereas New India Assurance Company Ltd. reported a YoY growth of 9%..Click on the attachment to read the full report:.Jio Financial Services Listing: Here's All You Need To Know.DISCLAIMERThis 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.

General Insurance Tracker - Health, Motor Continue To Drive Premium Growth In July: Motilal Oswal

Private players report exponential growth in the health segment; motor segment clocks a healthy YoY growth of 15%.

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