General Insurance Update - Health Remains Dominant Growth Driver In July: ICICI Securities

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ICICI Securities Report

Health insurance premium at the industry-level in July 2021 grew by a strong 43% YoY and 25% month-on-month.

Fire insurance premium too staged robust 20% YoY growth.

Motor gross direct premium income grew 9% YoY during the month. Within it, ICICI Lombard General Insurance Company Ltd. reported flat YoY growth while that by Bajaj Allianz General Insurance was 14.3%. On month-on-month basis, overall GDPI grew 7.6%, in which ICICI Lombard and Bajaj Allainz General Insurance reported 11% and 9% respectively.

Bajaj Allianz General Insurance market share gains across key segments has been noteworthy in July 2021.

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