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News: General insurance industry reported a 13.3% YoY rise in gross written premium for Q1FY25, driven by strong demand for motor and health insurance. Standalone health insurers including Star Health (17.83% YoY growth in premium) are leading growth in health segment. ICICI Lombard (20% YoY growth in Q1FY25) has been a frontrunner, while New India Assurance (2.8% YoY growth) has witnessed a decline in market share. Go Digit General (17.5% YoY growth) and Bajaj Allianz General Insurance (24.5% YoY growth) have reported healthy performance, with Bajaj Allianz General Insurance gaining significant market share increase (6.48% from 5.9% a year ago).
Views: While outlook for business growth remains healthy, player-wise divergence remains watchful.
Impact: Positive