Friday, May 7

Non-life insurers register 13 per cent rise in November premium to Rs 14,591 crore

NEW DELHI: Non-life insurance companies registered a rise of 13.1 per cent in their collective premium in November to Rs 14,590.50 crore, data from Irdai showed.

The business premium in the same month of the previous year by these 34 non-life insurance firms stood at Rs 12,903.57 crore.

Out of the total non-life insurers, the 25 general insurers registered an increase of 11 per cent in their premium income at Rs 12,723.61 crore during the month, as against Rs 11,508.67 crore in the year-ago same period, showed the Insurance Regulatory and Development Authority of India (Irdai) data.

Seven standalone private sector health insurance companies witnessed their premium rising by 29 per cent to Rs 1,167.66 crore, from Rs 903.65 crore in November 2018.

Two specialised state-owned insurers, Agricultural Insurance Company of India Ltd and ECGC Ltd, registered jump of 42 per cent in the premium collection at Rs 699.22 crore from Rs 491.25 crore a year ago, showed the data.

Cumulatively, the premium of all the non-life insurers during April-November were up by 15.57 per cent at Rs 1,26,048.45 crore, as against Rs 1,09,068.12 crore a year ago.

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