Fire, health segments drive non-life insurers' rebound, Q2 may be better

Non-life insurers have witnessed 3.6 per cent growth in premiums in the first five months of FY21, a signal that the second quarter (Q2) will be better for the industry than Q1 when firms saw a drop in premiums. Growth was driven by fire, engineering, health, aviation, and liability segments.

In the first five month of FY20, the firms had seen 14 per cent growth in premiums.

Till August this year, the motor segment witnessed 15.7 per cent reduction in premiums, with own-damage premium falling over 17 per cent and third-party premiums declining almost 15 per cent.

Muted growth in the economy and