India's insurance sector: Growth to slow down; dragged by muted auto sales and weak corporate health renewal
The insurance sector is experiencing a slowdown. Nuvama's report cites weak motor sales and fewer corporate policy renewals. Motor insurance growth has decelerated. However, third-party insurance premiums have increased. Public sector insurers are gaining market share. Fire insurance shows notable growth. Overall GDPI growth remains sluggish, but excluding crop insurance, it rises.
The insurance sector is experiencing a slowdown. Nuvama's report cites weak motor sales and fewer corporate policy renewals. Motor insurance growth has decelerated. However, third-party insurance premiums have increased. Public sector insurers are gaining market share. Fire insurance shows notable growth. Overall GDPI growth remains sluggish, but excluding crop insurance, it rises.
