Mute growth reported in India’s general insurance sector in July

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Mute growth reported in India’s general insurance sector in July

MUMBAI: The General Insurance Industry recorded a mute 2.8% premium growth in July, declining on big players such as sluggish motor insurance sales and Bajaj Alianz, HDFC Ergo and ICICI Lombard.

Most of these insurers saw premium contraction between 10% and 25%. But New India assured that he posted 16% growth. On the contrary, single health insurers delivered a stronger performance in premium collections by more than a year-by-year increase.

In large numbers

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    The total written premium of the industry has increased to 29,729 crore in the same month, compared to 28,929 crore in the same month. The recession is due to a change in reporting format.

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