General Insurance Tracker - Health Segment Continues To Outperform: Motilal Oswal

Motilal Oswal Report

The health business grew 35% YoY, with retail/group health up 12%/51%. Health premiums for government schemes saw a jump of 47% YoY at Rs 8.3 billion in October 2022. The overseas health segment surged 87% YoY. Standalone health insurance reported a 20% YoY growth in health gross written premium.

The motor business grew 13% YoY, led by 16% growth in motor own damage, whereas motor third party grew at slower pace of 10%.

Private multi-line players saw a strong performance in terms of both motor own damage and motor third party segments, whereas public players posted a 20% YoY growth in own damage but flattish trend in the third party segment.

Fire segment too witnessed a growth of 13% YoY.

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