Economic slowdown suppresses India non-life growth
The growth rates in the Indian non-life insurance market were impressive by world standards in 2011 and 2012, at 18.86% and 26.64% respectively, as India was largely spared the effects of the global economic crisis. In 2012, however, GDP growth slowed down to 4.99% from 9.32% in 2010 and 6.21% in 2011, causing the non-life growth rate to fall below 14%