Motor insurance premiums remain in contraction till February

The biggest business of non-life insurers, motor insurance, is still in contraction. Till February, the segment has shrunk 4%b in premiums collected. In the same period, the health insurance premiums have grown by 13%, with retail health rising 28%.

While group health has seen a growth of 9%, government schemes and overseas medical segments contracted. Among other segments, fire insurance premium is growing at more than 28%, while engineering is increasing at 10%. Crop insurance premiums have seen a decline of almost 6% till February. Overall, the premium of non-life insurers has seen a growth of 4% till February.