New Delhi, Sept. 24 -- India's life and general insurance segments have continued to record resilient growth, but profitability and productivity remain key challenges, with life insurers facing pressure from declining new business margins while general insurers grapple with falling ticket sizes and muted frontline productivity, according to a McKinsey report.

According to the report, the top four private life insurers recorded a compound annual growth rate (CAGR) of around 12-16 per cent in new business premium (NBP) and 14-20 per cent growth in embedded value (EV) between FY2022 and FY2026.

"At the same time, however, value-of-new-business (VNB) margins declined by three to four percentage points," it noted.

Overall productivity among...