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Health and motor segments drove growth, offset by a decline in the fire segment

* The industry's gross written premium (GWP) grew ~10% YoY to INR275b in Aug’26, led by an 18% YoY growth in the health segment, 10% YoY growth in the motor segment, and 23% YoY growth in the marine segment. This was offset by a 25% YoY decline in the fire insurance GWP.

* The motor segment’s GWP continued to grow in double digits (at 10% YoY) to INR91b, led by stronger growth in Motor OD at 13% YoY, while Motor TP grew in single digits at 9% YoY.

* The health segment’s 18% YoY growth was driven by 32% YoY growth in retail health and 16% YoY growth in group health, while GWP from government schemes declined 41% YoY. Growth for private players/SAHIs stood at 20%/32% YoY, while public players witnessed a decline of 2% in Aug’26.

* In Aug’26, GWP for private players grew 12% YoY to INR157b, while public players reported a stable GWP at INR65b. SAHIs maintained industry-leading growth momentum, with GWP growing 30% YoY, aided by double-digit growth across all players.

* Among key multi-line insurers, HDFC Ergo was one of the fastest-growing players (+58% YoY). ICICIGI witnessed stable GWP YoY, with a market share of 8.8% in FY27’YTD (9.3% in FY26’YTD). Bajaj General posted a growth of 11% YoY, with market share improving slightly to 7.1% (7.0% in FY26’YTD). Manipal Cigna was the fastest-growing SAHI (+44% YoY), while Niva Bupa/Star Health grew 37%/20% YoY.

Retail health continues to lead growth in the health segment

* The overall health business grew 18% YoY to INR108.3b, led by 32% YoY growth in retail health to INR55.9b and 16% YoY growth in group health to INR46.2b.

* Within the retail health segment, SAHIs/private multi-line players grew 36%/45% YoY, while the public segment grew 6% YoY. Star Health grew 23% YoY, while all other SAHIs reported over 45% YoY growth (Niva Bupa at +47% YoY). ICICIGI reported a strong growth of 65% YoY, bringing its market share to 4.7% in FY27’YTD, up from 3.7% in FY26’YTD.

* In the group health segment, private players grew 18% YoY, with ICICIGI growing 16% YoY. SAHIs witnessed 19% YoY growth, within which Star Health dipped 35% YoY, but Niva Bupa grew 17% YoY. Public insurers grew 10% YoY.

Overall Motor segment growth led by Motor OD growth

* Motor GWP grew 10% YoY to INR91b, backed by 13% YoY growth in motor OD, while Motor TP witnessed a growth of 9% YoY.

* Within motor OD, private players grew 13% YoY. Within this, ICICIGI posted a 6% YoY growth and BGen reported a 23% YoY growth. Public players posted a 14% YoY growth, with New India Assurance outperforming (+26% YoY). Other notable performance included 32% YoY growth in HDFC Ergo and 33% YoY growth in SBI General.

* Within motor TP, private players grew 8% YoY. Within this, ICICIGI rose 8% YoY and BGen reported a growth of 9% YoY. Public players reported an 8% YoY growth. The rate hike remains a key growth monitorable in motor TP.

Performance of key players in FY27’YTD

* ICICIGI reported a stable GWP YoY (market share of 8.8% vs. 9.3% in FY26’YTD).

* Bajaj General reported a growth of 11% YoY (market share of 7.1% vs. 7.0%).

* STARHEAL registered a growth of 20% YoY (market share of 5.3% vs. 4.9%).

* NIVABUPA recorded a growth of 38% YoY (market share of 2.6% vs. 2.2%).

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