INSURANCE
Non-life insurers reports marginal rise in gross direct premium underwritten for January
Feb-10-2025

The General Insurance Council in its latest data (Provisional) has showed that non-life insurers reported 5.86% rise in gross direct premium underwritten at Rs 27796.22 crore for the month of January 2025 (excluding specialised companies - Agricultural Insurance Company of India and ECGC) as compared to Rs 26258.62 crore in the January 2024. 

Of the total, general insurance companies, with market share of 84.65%, garnered gross direct premium underwritten of Rs 24136.68 crore in the month under review as compared to Rs 22962.02 crore in the corresponding month of previous year, registering a growth of 5.12%. Among all, premium of Navi General Insurance Co up by 74.89%, Kshema General insurance Co up by 51.96%, Shriram General Insurance Co up by 32.00%, Liberty General Insurance Co up by 24.33%, National Insurance Co up by 23.65%, SBI General Insurance Co up by 7.64%. However, premium of Raheja QBE General Insurance down by 50.41%, HDFC Ergo General Insurance Co down by 28. 27%, Bajaj Allianz General Insurance Co down by 15.20%. 

Standalone health insurers, with market share of 11.72%, garnered gross direct premium underwritten of Rs 3,659.54 crore in January 2025 as compared to Rs 3,296.60 crore in January 2024, i.e. up by 11.01%. Among all, Care Health Insurance Co up 18.17%, Aditya Birla Health Insurance Co up 16.69%, Niva bupa health insurance company up by 15.56%, ManipalCigna Health Insurance Co up 11.95%, Star Health & Allied Insurance Co up by 3.63%.

Specialised insurers showed growth of 26.25% in gross direct premium underwritten at Rs 1225.1 crore in January 2025 as compared to Rs 970.36 crore in the January 2024. Within the specialised insurers, premium of Agricultural Insurance Company of India up by 28%, while premium of ECGC up by 12% in the month of January this year.

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