Non-life insurance sector’s premiums rise 14% in December led by growth in health, motor and fire segments

In December, the non-life insurance sector experienced a 14% increase in premiums. This notable growth was largely driven by the health, motor, and fire insurance segments.

The rise in premiums underscores a growing demand for non-life insurance products and an increase in coverage acquisition across these key areas during that period.

Growth Drivers in Non-life Insurance

The expansion in the health insurance segment suggests heightened awareness and investment in personal and family health coverage.

Similarly, the motor insurance segment’s growth reflects increased vehicle ownership and regulatory compliance requirements.

The fire insurance segment’s contribution indicates rising risk mitigation efforts for property protection.

Key Takeaways

• Non-life insurance premiums increased by 14% in December.
• Health, motor, and fire segments were the primary growth drivers.
• Growth reflects rising demand and broader coverage acquisition in these sectors.

This development highlights important trends for business professionals and entrepreneurs monitoring insurance market dynamics.