General or non-life insurance provides coverage for property and casualty losses and includes policies like auto, home, fire, and health insurance. It covers insured items or property against loss or damage from certain risks like fire, flooding or vehicle collisions in exchange for premium payments. The document traces the origin and growth of general insurance in India, noting the first companies in 1850s, nationalization in 1972, and establishment of four public sector insurance companies along with the General Insurance Corporation as a parent body. It provides an overview of different types of non-life insurance and their growth rates from 2006-2014.

1. ORIGIN AND
GROWTH OF NON-
LIFE INSURANCE
Shubham kumar(51)

2. # General insurance or otherwise known as
non-life insurance policies includes
automobile and homeowners policies, provide
payment depending on the loss from a
particular event.
# General insurance typically comprises any
insurance that is not determined to be life
insurance.
OVERVIEW

3. # It is called property and casualty insurance in the
U.S. and non-life insurance in other continents of
Europe.
Examples: of non-life insurance policies include
fire, marine accidents, travel, theft, motor vehicle,
health

4. Fire Insurance
Fire Insurance is a form of property insurance or
general insurance which protects people from
the costs incurred by fires. When a structure is
covered by fire insurance, the insurance policy
will pay out in the event that the structure is
damaged or destroyed by fire.

5. Health Insurance
Health Insurance is a kind of insurance that
provides coverage for medical expenses to the
policy holder.
Depending on the health insurance plan chosen
the policy holder can get coverage for critical
illness expenses, surgical expenses, hospital
expenses etc.

6. Marine Insurance
Marine Insurance is a type of insurance that
covers cargo losses or damage caused to ships,
cargo vessels, terminals, and any transport in
which goods are transferred or acquired
between different points of origin and their
final destination.

7. Auto Insurance
Auto insurance is an insurance purchased for
cars, trucks, and other vehicles. It’s primary
use is to provide protection against losses
incurred as a result of traffic accidents and
against liability that could be incurred in an
accident.

8. • Triton Insurance Co. Ltd. was the first general
insurance company to be established in India in
1850.
• The Bombay Mutual Life Insurance Society
started its business in 1870.
• The Oriental Assurance Company was
established in 1880, after this there were more
than 100 general insurers.
Origin Of General Insurance

9. • In 1956, the government of India nationalized the life
insurers under one nationalized monopoly corporation
and LIC was born.
• The general insurance business remained in the private
sector till 1972, then nearly 107 insurers were
amalgamated and grouped into four companies - national
insurance company, new India assurance company,
oriental insurance company and united India insurance
company.
• They were subsidiaries of the General Insurance
Company (GIC).

10. -20
-10
0
10
20
30
40
50
60
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
fire marine health motor
Annual Growth Rate