India’s Non-Life Insurance Sector Sees 2.82% Dip in February

India’s non-life insurance industry experienced a 2.82% decline year-on-year (YoY) in February, with general insurers reporting a more significant contraction of 4.84%, according to data from the General Insurance Council.

Standalone health insurers were a bright spot, registering a 7.8% increase in premiums YoY. Specialized insurers also saw modest growth, with a 1.79% rise in their premiums.

However, on a year-to-date (YTD) basis, the sector has seen an overall increase of 6.56% YoY. Standalone health insurers led this growth, with a notable 14.55% YoY rise in premiums. Specialized insurers saw a 2.38% increase, while general insurers recorded a 5.72% rise.

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