Far less people ventured out with their cars on the Indian streets in 2020. This year, too, with lockdowns spreading fast, the vehicles will remain off the streets for a long time. This is good news for the Indian insurance sector because there will be far fewer claims to report.
India’s largest non-life insurer New India Assurance actually ended up with a small profit in its motor portfolio of Rs 87.4 crore in the second quarter of FY21 — a first after a long time. In the same period of FY20 it had made a loss of Rs 272.8 crore. Motor, the second largest selling non-life ...
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