Declining sales of vehicles in India have affected motor insurance premiums, with New India Assurance reporting a 6% dip from April to June.
“The motor vehicle insurance market was not buoyant as vehicles sales were down,” Atul Sahai, chairman and managing director of New India Assurance, was quoted as saying by The Hindu Business Line. “But we managed to grow in other branches of business such as fire, marine, aviation, and engineering sectors, posting 16% growth in the first quarter.”
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