Despite demonetisation, the general insurance industry saw 29% growth with premium collection of Rs 9162.81 crore for the month of November. Health was the most robust portfolio, ahead of motor and commercial lines with standalone insurers seeing 40% increase at Rs 401 crore. The general insurance sector, however, did not witness the stellar growth witnessed by life for the month of November. Post-demonetisation with more people wanting to shift to safer havens of investment, life insurers saw a six-fold increase year-over-year in premium collection to Rs 6,700 crore in November 2016-17. While general insurance saw brisk sales in health and motor, the notes ban seems to have left a dent in insuring crops and export products. Indian exports fell for 18 straight months till May 2016. However, between September and November there has been a slight growth. Exports in November grew 2.29% to $20 billion, but this did not reflect in higher sales for the Export Credit Guarantee Corporation of India (ECGC). Premiums fell 5% to Rs 103.24 crore on November 2016-17 from Rs 98.02 last fiscal. Sale of crop insurance also fell, with Agriculture Insurance Company of India Limited (AIC) seeing a 16% dip in premiums to Rs 193.55 crore from Rs 230.75 crore in the month of November. On the back of increased business in motor and health, public-sector insurers saw premiums go up 19% to Rs 4,192.92 crore, while private insurers saw 45% year-over-year growth to Rs 4,277.26 crore last month. Leading private insurer ICICI Lombard saw its share in the pie go down to 8.88% in November from 9.23% in September. Bajaj Allianz also saw its share go down to 5.71% from 6.10%. Source - http://timesofindia.indiatimes.com