General insurance companies posted a growth of 12.9% (year-on-year) in gross direct premium in July. Data from the General Insurance Council show that private players continued to see higher growth compared to their public sector peers. Specialised insurers such as ECGC and AIC saw negative growth in July.
The general insurance industry witnessed gross premium income of R8,986.56 crore during the month under review, against R7,958 crore in July last year. While private insurers registered gross premium income at R3,948.72 crore last month, up by 22.8% compared with the year-ago period, public sector insurers saw 8.9% growth at R4,502.85 crore.
