Growth in Insurance Business in August 2019 vs August 2018

Growth of Insurance Business

The month of August 2019 proved to be yet another fruitful month when insurers registered a positive growth. Both life and general insurance companies posted positive returns and increased their premium collections compared to August 2018. In the life insurance segment private players led the race while LIC stood at the number four spot. In the general insurance segment all the leading spots were taken by private general insurance companies with Acko General Insurance Company continuing its magic run this month too. Let’s see what the numbers speak –

Life insurance

The life insurance market saw dominance by Kotak Mahindra, Aviva and Exide life insurance companies as they occupied the leading three spots respectively. LIC also performed well and stood at number 4 followed by TATA AIA. Here’s the chart showing the percentage growth in premium collection of the top five life insurance companies –

Growth for premium Life insurance

 

General insurance

In the general insurance market, Acko has been the frontrunner since the last few months and even in August the company registered the highest growth in premium collection. The second spot was retained by Go Digit continuing its run from the last few months. The last three spots consisted of big names in the general insurance segment. Here are the numbers –

Growth for premium General insurance

The growth story of the insurance industry is good news for you as it directly impacts your business. Growth in premium collections signifies that customers are becoming aware of the importance of both life and general insurance policies and are investing in them. This means more customers for you to sell your policies and boost your business. So, take the advantage of the growing insurance market to tap more clients and to increase your earnings.

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