India’s general insurance sector experienced slow growth in July, with premium growth reaching only 2.8 percent. This muted performance was primarily attributed to sluggish motor insurance sales and declines observed at major players such as Bajaj Allianz, HDFC Ergo, and ICICI Lombard, where premium contractions ranged between 10% and 25%. In contrast, New India Assurance demonstrated robust growth, posting a 16% increase. Standalone health insurers also performed strongly, recording a year-on-year premium collection increase of over 10%. The industry’s total gross written premium for July rose to ₹29,729 crore, compared to ₹28,929 crore in the same month last year. The article notes that this slowdown is also partly due to a change in reporting format.