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In need of a booster shot

A recovery in the economy will bode well for the general insurance sector. While the segment grew 13% in FY15, it is expected to rise 15% in FY16, according to an Icra report.

Updated: August 12, 2016 10:40 AM

A recovery in the economy will bode well for the general insurance sector. While the segment grew 13% in FY15, it is expected to rise 15% in FY16, according to an Icra report. Segment-wise, motor insurance accounts for over 40% of the total volume of public sector insurers; health and personal accident segment grew the fastest at 19% year-on-year in FY15 because of aggressive pricing in the group health business. Private sector insurers continue to face stiff competition from public sector insurers, especially in group health segment.

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