Non-Life Premiums Muted Growth Continues in Nov; Growth in Health Slows, while Motor OD Pick-ups

Overview
The non-life insurance industry reported a premium of Rs 20,897.6 crore in November 2023, rising by a more sedate 8.8%, compared to last month’s 13.6% and 22.1% in November 2022. This slower growth can primarily be attributed to slow growth in Health and Motor TP along with a fall in crop insurance. Meanwhile, for YTDFY24, the industry has continued to report double-digit growth. This growth continues to be underpinned primarily by the health and motor insurance segments.

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