Your gross direct premium income (GDPI) till November was ₹3,622 crore. What is your projection for FY25 based on the current growth rate?
Last year, we closed with ₹4,622 crore GDPI. For FY25, we expect a GDPI base of ₹5,060 crore. Motor insurance will contribute around 46%, crop insurance 25% and health 17%. Commercial lines comprising fire, marine, and miscellaneous insurance will have a 12% contribution.
Aren't you highly concentrated on a single segment - motor insurance?
Initially, Universal Sompo focused heavily on crop insurance, which at one point accounted for 70% of our total premium portfolio. About four and a half years ago, we decided to diversify into other segments, including motor, health and commercial lines.
This story is from the December 25, 2024 edition of Financial Express Mumbai.
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This story is from the December 25, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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