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Showing posts with the label Buy Shares of Reliagare Health Insurance

For The First Time, Health Segment Beats Motor Insurance

  For the first time in India's insurance sector, the health business has beaten the motor vertical to become the biggest non-life industry segment, boosted by a rise in standard Coronavirus (COVID-19) plans. On the other hand, a slump in vehicle sales has affected motor insurance. Till now, the motor insurance segment, driven primarily by the mandatory motor third-party insurance, has always been the largest business segment in the general insurance sector. However, industry sources said that this year, COVID-19 played spoilsport. “When it comes to third-party cover, it includes insurance for new vehicles as well as renewals. The reality is that customers are not renewing their vehicle insurance since remote working is the new normal. This has severely affected motor premiums,” said the head of sales at a bank-led general insurer. Insurance Regulatory and Development Authority of India (IRDAI) data showed that while motor insurance premiums saw a 15.7 percent decline, health insur...

Gross direct premium underwritten by non-life players rises 18% in July

  The  gross direct premium  underwritten by  general insurance companies  for the month of July 2020 increased by 18% at Rs 17,011.39 crore as compared to Rs 14,369.51 crore in July 2019. Even the gross premiums underwritten by general insurance players till July 2020 inched up 1.62% to Rs 56,340 crore as against Rs 55,442 crore in the same period last year. Of the total Rs 17,011.39 crore gross direct premium underwritten in the month of July 2020, the 25 general insurance companies accounted for Rs 13,862 crore (Rs 12,277.04 crore in July 2019), whereas the six standalone private health insurers accounted for Rs 1,573.96 crore (Rs 1,116.86 crore in July 2019). Among the general insurance players,  Bajaj Allianz General Insurance Company Limited  accounted for Rs 2,003.83 crore,  ICICI Lombard  General Insurance Company Limited Rs 1,089.07 crore and  The New India Assurance Company  Limited Rs 1,993.61 crore. In June 2020, t...