This chapter gives a snapshot of Non-Life Insurance Industry performance from the period 2013-14 to 2022-23.

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 the 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 measures will be taken by the government to reduce the number of uninsured vehicles plying on the roads.

Health Insurance has emerged as a significant portfolio accounting for almost one-third of the market share. Health & Accident Insurance segment has grown to ₹ 97,686 Crores at a CAGR of 19.50% over the period 2013-14 to 2022-23.

Table 3.1.1Number of Insurers as on 31st March 2022

General Insurers	Standalone Health	Specialized	Reinsurance
25	5	2	12