GENERAL INSURANCE- UNDER-PENETRATED, BUT HIGHLY COMPETITIVE
We are constantly being bombarded by risks, both traditional and new age. At one end, last year we saw floods across 13 states. India suffered economic losses of roughly Rs 40,000 crores and only 8% of those were insured
We are constantly being bombarded by risks, both traditional and new age. At one end, last year we saw floods across 13 states. India suffered economic losses of roughly Rs 40,000 crores and only 8% of those were insured
On the other hand, incidences of cyber attacks, data breaches, ransomware and malware are becoming more and more prevalent. India alone has witnessed more than 1800 devices being impacted per minute, last year.
It's a remarkable number!
It's a remarkable number!
In the current scenario, where there is outbreak of new diseases at any point of time, for example COVID-19, due to which people have started to understand the importance of health insurance.
Acknowledging the above mentioned points, we feel general insurance as a sector has bouquet of risks to cater. In the thread below we would be sharing few dynamic of this sector.
The industry size is 1,73,000 crores which is growing at a rate of 14% every year.
The industry size is 1,73,000 crores which is growing at a rate of 14% every year.
Market Share classified into major Public and Private players. 
Segment wise classification on the basis of Gross Direct Premium Income (GDPI).
Market share of players amongst major categories.
Conclusion
We feel few insurances like Health and Motor have become necessity in the current scenario. General insurance as sector has huge untapped sales potential because of increasing risks. Thus, companies with increasing ROE and market share deserves to be in your portfolio.
We feel few insurances like Health and Motor have become necessity in the current scenario. General insurance as sector has huge untapped sales potential because of increasing risks. Thus, companies with increasing ROE and market share deserves to be in your portfolio.
