This chapter gives a snapshot of Non-Life Insurance Industry performance from the period 2012-13 to 2021-22.

The Non-Life Insurers have maintained a steady growth, maintained Solvency margins and saw variations in profitability despite many challenges faced by them during the last 10 years including impact of the Covid pandemic. Market competition dominated all lines of business other than mandated Motor Third Party Insurance since April 2007.

Motor Insurance including Third party cover has a share of more than 30% of the total premium. Uninsured vehicles are the cause of concern, and it is expected that the new Motor Vehicle act will act as a catalyst to bring more uninsured vehicles in the insurance net. The trend of the courts giving higher awards to the Motor Third party claimants is also a serious concern.

Health Insurance has emerged as a significant portfolio accounting for more than one third of the market share. Health & Accident Insurance segment has grown to ₹ 80,501 Crores at a CAGR of 18.6% over the period 2012-13 to 2021-22.

Table 3.1.1Number of Insurers as on 31st March 2022

General Insurers	Standalone Health	Specialized	Reinsurance
24	5	2	11