Turnover up by 9.3% for non life insurance

According to provisional data provided by the regulatory authority for the year 2014/2015, the non life market achieved an annual turnover up by 9.3% at 847.15 billion INR (13.49 billion USD).

This single-digit growth, less than that of 13% recorded in the previous year, is mainly due to the decline in motor underwritings and the non-materialized infrastructure projects.

Out of the 28 non life companies of the sector, the four public sector insurers account for 50.18% of the turnover, thus achieving an increase of 10.1% of gross premiums.