General Insurance - Premium Growth Driven By Retail Health, Motor OD Segment In Nov: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The industry's gross written premium increased 9% YoY to Rs 209 billion in November 2023. This is because the motor own damage segment grew 21% YoY, while the retail Health segment grew 16.5% YoY. In Nov-23, fire segment and commercial lines reported a YoY growth of 10% and 12%, respectively; however, the crop segment plummeted 25% YoY. During the month, public sector undertaking players reported flattish YoY growth to Rs 65.1 billion. Standalone health insurers outperformed industry growth by reporting a GWP of Rs 24.8 billion in Nov-23, up 23% YoY. Private multi-line players reported a growth of 9% YoY (Rs 115.4 billion), which is in line with the industry growth.Among key players, ICICI Lombard General Insurance Company Ltd. grew 17% YoY in Nov-23 (on account of 21% growth in the motor own damage segment).Star Health and Allied Insurance Company Ltd. also reported a GWP growth of 17% YoY. Bajaj Allianz declined 9% YoY (on account of exponential growth in Crop business in Nov-22). HDFC Ergo reported a growth of 3%, whereas New India Assurance Company Ltd./National India reported a decline of 1%/8% YoY..Click on the attachment to read the full report:.Life Insurance - Non-Single Premiums Lead The Growth Charts In September: CareEdge.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

General Insurance - Premium Growth Driven By Retail Health, Motor OD Segment In Nov: Motilal Oswal

Crop business plummeted in November 2023

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General Insurance - Premium Growth Driven By Retail Health, Motor OD Segment In Nov: Motilal Oswal

Crop business plummeted in November 2023

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