Insurance Regulatory and Development Authority (Irda) Chairman J Hari Narayan said some segments of the insurance industry might record a decline this year but the overall industry was expected to grow.
“For the year ending March 2011, there may be some negative growth in some segments, but overall in terms of first-year premiums there will be growth,” he said on the sidelines of a seminar here.
Adding: “But the rate of growth will certainly come down. It may take a year or so before the insurance industry stabilises.”
