Summary |
The insurance industry has maintained its growth momentum in FY 17, despite the economic growth not supporting it as much. It posted a growth rate of 18% at a time when the GDP growth slumped to 7.1%. While the 'demonetization' move of the government led to a drop in the GDP, it had a positive impact on the insurance industry. The life insurance segment saw a 45% growth in the month of November 2016 as against a monthly average of about 17%. The non life insurance segment saw a growth of 32%.
The information in this report based on the public disclosures made by the insurance industry.
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