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This Article is From Oct 25, 2021

General Insurance - Premium De-Growth Of 3% In September Due To Decline In Crop Business: Motilal Oswal

General Insurance - Premium De-Growth Of 3% In September Due To Decline In Crop Business: Motilal Oswal
A farmer walks through a field of a farm at a village in Haryana, India. (Photographer: T. Narayan/Bloomberg)
STOCKS IN THIS STORY
ICICI Lombard General Insurance Co Ltd
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BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Private players reported a gross written premium growth of 5.7% YoY in September 2021, while the industry recorded a de-growth of 2.8% YoY.

In FY22 year-to-date, private players performed in-line with the industry with a 12.3% YoY growth.

Among the key players, Bajaj Allianz General Insurance, New India Assurance Company Ltd, and Star Health Insurance reported a strong GWP growth of 8.2%/6.8%/17.9% YoY, whereas ICICI Lombard General Insurance Company Ltd. reported a muted growth of 2.6% YoY.

The overall GWP growth for Sep-2021 was impacted by a sharp decline in the crop business (down 29.2%) and a muted performance in the motor business (0.8%), where as the health, fire and marine businesses demonstrated a strong growth of 17.2%/15.2%/20.2%, respectively.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BloombergQuint 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 BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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