Thursday, April 15

Non-life insurers register 17% rise in Aug new premium income at Rs 15,964 cr

India’s non-life insurance companies registered a rise of 17 per cent in their combined new premium collection at Rs 15,964 crore in August, IRDAI data showed. The 34 insurers’ gross premium collection stood at Rs 13,657.51 crore in the same month a year ago.

Among these, the 25 general insurance providers had a combined premium of Rs 12,447.10 crore during the month, up by 12 per cent from same period of 2018. The seven stand-alone private sector non-life companies registered an increase of 33 per cent in new premium income at Rs 1,070.29 crore.

The two specialised public sector companies – Agricultural Insurance Company of India and ECGC Ltd – witnessed 42 per cent jump in their collective premium income at Rs 2,446.61 crore, according to data from the Insurance Regulatory and Development Authority of India (IRDAI). Cumulatively, the gross premium underwritten by all the 34 non-life insurers during April-August period of the current fiscal rose by 14 per cent to Rs 71,415.09 crore.

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