Chennai, Dec 5 The year 2020 will go down for the Indian non-life insurance sector as a year of coronavirus that resulted in large scale digital embracement and increased health insurance spread, reduced overall business, industry consolidation, large losses, said senior industry officials.
At a time when the private sector is witnessing mergers and acquisitions, the central government scrapped its earlier plan to merge National Insurance Company Ltd, Oriental Insurance Company Ltd and United India Insurance Company Ltd into one.
"Some things that were building up at the start of the year have been blunted by the pandemic: the growth in the 5th largest economy in the world; the '$5 Trillion GDP
( With inputs from IANS )
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