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Health, fire drive growth for insurers in January even as motor, crop suffer


Health, fire drive growth for insurers in January even as motor, crop suffer
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Last Updated: Feb 21, 2021, 07:07 PM IST
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Synopsis
Non-life insurance premium reached Rs 18488.1 crore for the month against Rs 17333.7 crore January of 2020. At 2.8% the Gross Direct Premium (GDPI) growth has been much slower for the year-to-date (YTD) period for FY21, as per data released by the General Insurance Council.
Agencies
Health insurance continued to grow on the back of increased urgency among households to buy medical covers driven by covid-19 induced awareness.
The growth in premium collected by the general insurers in January at 6.7% remained tepid even as health and fire insurance segments continued to witness robust growth. A muted demand for automobile and crop insurance dragged down the industry to a slow start to the calendar year. ....

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