The gross direct premium underwritten by non-life insurers, comprising general, standalone private health insurers and specialised PSU insurers, rose 18.4% to ₹17,011.39 crore in July from a year earlier.
Standalone health insurers powered the growth, presumably on the back of higher demand for health covers in the wake of COVID-19, with a close to 41% increase to ₹1,573.96 crore.
General insurers also seem to have benefitted from the pattern clocking growth of 12.9% to ₹13,862 crore. Many among the 25 general insurers reported a decline in business, individually. However, in April-July, gross direct premium underwritten by non-life insurers rose 1.62% to ₹56,339.82 crore.
The period was marked by lockdowns, which hit auto sales and in turn, motor insurance.
