An analysis by AIP Analytics shows, though, the industry witnessed a massive disruption due to the onset of Covid-19 Pandemic since March 2020, in terms of key parameters like  gross premium, number of policies issued, underwriting losses/ profit , Combined ratio, gross claims, no of employees and foreign direct investment  and investment in infrastructure and social sectors, the Indian general insurance industry has seen a significant improvement  during FY 2020-21.
The first half of 2021- 22 has definitely seen a reversal in several aspects.Primarily the second wave has hit the helath insurance portfolio  much harder , motor insurance has seen more intense price competition due to lower demand of new vehicles while at the sametime There is no lockdown effect this time. Prices for small and medium risks  have plummeted in the property space . All These point towards a much worse performance of
the Indusrty going forward,”cautioned the analysts.