News From Press Non-life insurance premium growth hits decadal high

Non-life insurance premium growth hits decadal high

Source: Forbes Aug 18, 2017

Non-life insurance registered a premium growth of 32% in fiscal 2017 – a decadal high - driven by four-fold rise in crop insurance premium. Favourable policy changes in terms of pricing and coverage - courtesy Pradhan Mantri Fasal Bima Yojana - benefited both insurers and farmers and led to a spurt in crop insurance business. That, and healthy growth in motor third-party and health insurance businesses, drove overall premium growth for the non-life insurance industry.

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