“General Insurance Premium Growth Slows in First Quarter”
Indian general insurers saw a decline in the growth of premiums underwritten during the first quarter of the current financial year, due to slower growth in key segments like motor and health. According to data from the General Insurance Council of India, premiums grew 13.33% to Rs. 72,758 crores in the June quarter of FY2025, lower than the 17.88% growth seen in the same period last year.
The health insurance segment saw premium growth drop to 16.58% from 20.75% last year, reaching Rs. 29,915 crores. Motor premium growth also slowed to 11.95% from 20.93%, taking in Rs. 21,348 crores. Industry leader New India Assurance reported a modest 2.82% growth in underwritten premiums for the quarter. Standalone health insurers witnessed a 24.95% premium jump to Rs. 8,318 crores.
