Amid Covid-19 pandemic, India's insurance sector has seen contrarian growth

The industry has outperformed its global peers, but mostly by exiting the bottom of the pyramid

Far less people ventured out with their cars on the Indian streets in 2020. This year, too, with lockdowns spreading fast, the vehicles will remain off the streets for a long time. This is good news for the Indian insurance sector because there will be far fewer claims to report.
 
India’s largest non-life insurer New India Assurance actually ended up with a small profit in its motor portfolio of Rs 87.4 crore in the second quarter of FY21 — a first after a long time. In the same period of FY20 it had made a loss of Rs 272.8