Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM

Premium collections for several leading insurers registered sharp declines in August on a month-on-month (MoM) basis, according to sources.

In the general insurance segment, New India Assurance saw the steepest drop, with premiums falling 47% MoM to ₹2,197 crore.

ICICI Lombard reported a 12% MoM decline in premiums to ₹2,182 crore, while Go Digit General Insurance registered a 16% MoM drop at ₹738 crore.

Health insurers also reported contractions.

Niva Bupa Health Insurance posted a 4% MoM decline in premiums to ₹613 crore, whereas Star Health Insurance recorded a 6% MoM fall to ₹1,426 crore.

The declines come after months of steady expansion in the broader insurance sector.

Meanwhile, in July, insurers had reported strong inflows, with New India Assurance, ICICI Lombard, Go Digit, Niva Bupa, and Star Health all posting double-digit MoM growth, highlighting a sharp contrast with the August figures.

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