The coronavirus (Covid-19) disruption and the subsequent lockdown imposed by the government had a significant impact on the non-life insurance industry's premiums for the month of March. The motor and health segment led the decline in premiums for the industry as the month of March saw premium for the industry decline by as much as 9%. Motor segment saw a 7% decline in premiums, while health registered an 11% decline in premiums. Credit insurance segment's premiums declined 42%, while premiums in the personal accident segment witnessed 53% decline. For the full year, however, the industry registered a 12% growth in premiums with motor and health segments showing marginal increase in premium collection.
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