India’s non-life insurance sector dips 2.82% in February

General insurers, the largest share, recorded a contraction.

India’s non-life insurance sector dipped 2.82% year-on-year (YoY) in February, with general insurers contracting by 4.84% YoY, data from the General Insurance Council showed.

Standalone health insurers saw their premiums climb 7.8% YoY, specialised insurers marginally increased by 1.79% YoY.

On a year-to-date (YTD) basis, the industry increased by 6.56% YoY. Stand alone health insurers’ premiums, likewise, leapt 14.55% YoY. 

Specialised insurers saw their premiums hike 2.38% whilst general insurers climbed 5.72% YoY.