General insurance growth slows to 4.5% in August amid slower auto sales

The general insurance industry experienced a modest 4.5% growth in August 2024, hindered by slower vehicle sales and no motor third party tariff hike. Standalone health insurers reported robust growth, with Niva Bupa Health Insurance leading the way. ICICI Lombard and Go Digit General Insurance saw increases in premiums, while New India Insurance and National Insurance faced declines.