News From Press Tepid vehicle sales, competition weigh on motor vehicle insurance premiums

Tepid vehicle sales, competition weigh on motor vehicle insurance premiums

Source: BS Mar 25, 2025

Sluggish domestic vehicle sales, stagnant third-party insurance rates, and stiff competition are slowing down growth in motor vehicle insurance premiums. Premium growth has slowed from 13.6 per cent in the April-February period of 2023-24 (FY24) to 8 per cent in the same period of 2024-25 (FY25).

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