The Covid-19 disruption and the subsequent lockdown had a significant impact on non-life insurance industry’s premiums for March.
The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent. While motor segment saw a 7 per cent decline in premiums, health registered an 11 per cent decline in premiums.
Credit insurance segment’s premiums declined 42 per cent while premiums in the personal accident segment witnessed 53 per cent decline. The industry, however,