The non-life insurance industry bounced back in October, as premiums grew at 15.51 per cent year-on-year (YoY) and marked a change from a disappointing number in September.
The industry netted premiums to the tune of Rs 20,423.38 crore in October, up 15.51 per cent from the year-ago period, according to data put out by General Insurance Council (GIC).
General insurers, who operate multiple lines of business, reported a 17.5 YoY growth of Rs 18,390.86 crore on the back of a robust performance by state-owned firms. Standalone health insurers reported a 20 per cent YoY jump in premiums in the same period.
Four state-owned insurers saw a 22.46 per cent YoY jump in premiums. Premiums of private sector insurers increased by 14.5 per cent YoY. Among top private sector insurers, ICICI Lombard netted premiums to the tune of Rs 2,047.12 crore, up 22.19 per cent YoY; Bajaj Allianz general’s premiums were up 24.54 per cent YoY to Rs 1,230 crore; and HDFC Ergo’s premiums were up 5 per cent YoY to Rs 1,298.19 crore.
In FY23, non-life insurers have reported a premium growth of 15 per cent YoY to Rs 1.45 trillion, driven by robust growth witnessed by private sector general insurers, and standalone health insurers. After over 20 per cent growth in Q1 FY23, the non-life insurance industry saw a tapering of growth in Q2FY23 as it reported only 10 per cent growth during this period. In H1 FY23, the industry grew 15.3 per cent, compared to 12.6 per cent in the same period last year. This growth was driven by health (especially the group segment), motor, and crop insurance.
Motor insurance premiums, riding on vehicle sales and repricing of third-party premiums, compensated for the normalization of growth. Health insurance premiums have moderated in H1 FY23 after witnessing high levels of growth during the pandemic.
Despite moderation in growth, experts believe demand for health insurance will continue, albeit not at the level witnessed during the pandemic. Further, the long-term growth of motor insurance would be driven by growth in the automotive industry.
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2月16日 – 京都議定書発効から10年。衆議院 (2021年4月15日).
2021年4月16日閲覧。 これに対して、アメリカ海軍航空隊の最新鋭機であるマクドネルF-4やF-105戦闘爆撃機の被撃墜が続出したことから（4月29日には、中華人民共和国の領空を侵犯したアメリカ海軍第96戦闘飛行隊のF-4Bが、中国人民解放軍空軍の戦闘機に撃墜されている）、精密誘導兵器をほとんど運用していなかった海軍航空隊や空軍の現場部隊からは「貴重な操縦士を大勢殺しておきながら何ら効果をあげられていないではないか」と苦情が相次ぎ、アメリカ合衆国国防総省も乏しい戦果の割に被害続出というコストパフォーマンスの悪さと操縦士の損失の多さを認め、1967年4月末には殆どの制限が撤廃された。