Saturday, April 1, 2023
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT US
198 Automobile News
No Result
View All Result
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us
No Result
View All Result
198 Automobile News
No Result
View All Result
Home Business

Motor insurance premiums revive on festive auto sales jump, Auto News, ET Auto

by The Editor
November 23, 2020
in Business
0
Motor insurance premiums revive on festive auto sales jump, Auto News, ET Auto
Share on FacebookShare on TwitterShare on EMail

[ad_1]

New Delhi:

Representative Image
Representative Image

The pick up in auto sales during the festive season has revved up the business of insurers with motor premiums increasing 3 per cent yoy in October 2020.

Motor premiums were down for most part of the current fiscal and it fell 4 pet cent yoy in 2QFY21.

There has been a flurry of activity in automobile sales in October with four wheeler sales rising by 20 per cent and two wheeler by 15 per cent yoy.

Robust festive demand and a gradual rise in freight volumes and utilization rates supported premiums, Kotak Institutional Equities said in a report.

As per the report, motor own damage (OD) premiums was up 2 per cent yoy while motor TP (third party) was up 4 per cent yoy (decline of 5-8% yoy over the past three months).

Motor premiums have gradually improved from trough levels observed in April and May and will likely improve further, the brokerage said.

In the rise of the motor insurance business, new age players have emerged stronger while SBI, Tata and ICICI have performed better than the pack. Among key players, new age players like Acko and Go Digit witnessed strong growth in the motor business during the month, up 40 per cent yoy and 24 per cent yoy respectively post reporting weak overall growth in September 2020.

SBI reported a stellar 48 per cent yoy growth in motor led by 94 per cent yoy jump in TP; the company reported better-than-industry growth for the sixth consecutive month.

ICICI Lombard was up 12 per cent yoy; tie-ups with new OEMs and diversification of channels driver growth in motor. Tata AIG was up 28 per cent yoy; continued improvement over the past few months.



[ad_2]

Source link

ShareTweetSend

Related Posts

2023 VW ID.4 Debuts With New Base Trim Starting At $38,790

2023 VW ID.4 Debuts With New Base Trim Starting At $38,790

by The Editor
August 4, 2022
0

The 2023 Volkswagen ID.4 arrives with a new entry-level Standard grade and updates throughout the trim levels. VW is...

Electric truck maker Nikola beats revenue estimates on higher deliveries

Electric truck maker Nikola beats revenue estimates on higher deliveries

by The Editor
August 4, 2022
0

Nikola Corp exceeded market estimates for quarterly revenue on Thursday as the electric-vehicle maker delivered more semi trucks after...

Consolidated profit at INR 41.14 crore, Auto News, ET Auto

Consolidated profit at INR 41.14 crore, Auto News, ET Auto

by The Editor
August 4, 2022
0

Sundaram Finance Holdings (SF Holdings) has reported a consolidated net profit at INR 41.14 crore up by 30.27% for...

BMW sees volatile 2022 with chips and energy squeeze in focus

BMW sees volatile 2022 with chips and energy squeeze in focus

by The Editor
August 4, 2022
0

BERLIN — BMW lowered its output forecast and warned of a highly volatile second half on Wednesday, pinpointing supplies...

Lordstown Motors reports first quarterly profit on asset sale to Foxconn

Lordstown Motors reports first quarterly profit on asset sale to Foxconn

by The Editor
August 4, 2022
0

Lordstown Motors Corp on Thursday reported its first quarterly profit as the electric-vehicle firm benefited from the sale of...

Ashok Leyland distributor Deluxe Trucks & Buses inks pact with Kenya Commercial Bank for vehicle financing, Auto News, ET Auto

Ashok Leyland distributor Deluxe Trucks & Buses inks pact with Kenya Commercial Bank for vehicle financing, Auto News, ET Auto

by The Editor
August 3, 2022
0

File Image New Delhi: Ashok Leyland’s authorized distributors, Deluxe Trucks, and Buses in Kenya on Wednesday signed a partnership...

Load More
Next Post
Lamborghini x Master & Dynamic Collection

Lamborghini x Master & Dynamic Collection

2021 Chevrolet Tahoe Infotainment System Driveway Test

2021 Chevrolet Tahoe Infotainment System Driveway Test

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

No Content Available
Load More
198 Automobile News

Get the latest automotive news and follow the coverage of updates, new release, auctions, deals and and more from the world's top trusted sources.

Follow Us

Categories

  • Auto Auctions
  • Autodeals
  • Blog
  • Brands
  • Business
  • Clubs
  • Global Trends
  • News
  • Reviews
  • Videos

Recent News

CerebrumX’s deep learning platform hints at the future of connected vehicle data

CerebrumX’s deep learning platform hints at the future of connected vehicle data

August 5, 2022
Food delivery strike in Malaysia today – Grab responds

Food delivery strike in Malaysia today – Grab responds

August 5, 2022
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2020 198 Automobile News.

No Result
View All Result
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us

Copyright © 2020 198 Automobile News.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?