Health, motor lead general premiums in India

Indian general insurance companies saw growth of 13.8 percent (year-on-year) in gross direct premium in for the first quarter of 2018. Segments such as health and motor insurance, according to market participants, largely led this growth. Data from the Insurance Regulatory and Development Authority of India (IRDAI) show that general insurance companies saw gross direct premium in the month of April at INR13,880.74 crore as against INR12,198.60 crore in previous year.

New India Assurance continued its dominant position in the industry with market share of 18.25 percent, while in private sector ICICI Lombard remained at the top with market share of 9.71 percent. Apart from New India Assurance, other public sector insurers like National Insurance and United India Insurance had market share of 10.53 percent and 9.28 percent respectively in the month of April, stated a report in the Financial Express.