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CARE Ratings Research Report
The non-life insurance industry has continued to show a strong performance even as the economic growth slows due to the second wave of the pandemic.
The May 2021 monthly numbers reported a 13.1% growth continuing with the trend seen during the previous months.
Non-life insurance premium reached Rs 12,316.5 crore for the month of May 2021 compared to Rs 10,891.5 crore in May 2020.
Growth is anticipated to have been driven by the low base effect (national lockdown in May 2020 versus localised lockdowns in May 2021), along with continued growth in the health insurance segment.
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