Non-Life Insurance Premiums Maintain their Uptrend in May 2023, Motor and Health Continue to Dominate

Overview In May 2023, the non-life insurance industry reported a premium of Rs 18,196.0 crore growing by 18.1% y-o-y, compared to 25.3% in the same period last year. Meanwhile, for the first two months of FY24, the industry has continued to report double-digit growth. This growth has continued to be driven by health (especially the group segment), and motor insurance. Meanwhile, the fire segment continued its underperformance with subdued y-o-y growth of 6.7%. Non-Life_Insurance_Update_for_May_2023