Non-life sector in India to grow at slower pace in 2023

According to Swiss Re Institute, the non-life insurance sector in India is expected to grow at a slower pace this year due to the Ukraine war and high inflation, Asia Insurance Review reported. The sector is expected to see a recovery with an average annual growth of 6.7% in 2024 and 2025 after a slight contraction seen in 2020 due to the COVID-19 lockdown.