INSURANCE
Non-life insurers reports marginal fall in gross direct premium underwritten for February
Mar-12-2025

The General Insurance Council in its latest data (Provisional) has showed that non-life insurers reported 3.05% fall in gross direct premium underwritten at Rs 20633.93 crore for the month of February 2025 (excluding specialised companies - Agricultural Insurance Company of India and ECGC) as compared to Rs 21284.06 crore in the February 2024. 

Of the total, general insurance companies, with market share of 84.48%, garnered gross direct premium underwritten of Rs 17399.34 crore in the month under review as compared to Rs 18283.50 crore in the corresponding month of previous year, registering a de-growth of 4.84%. Among all, premium of Kshema General insurance Co up by 702.33%, Universal Sompo General Insurance Co up by 29.06%, Shriram General Insurance Co up by 21.50%, Navi General Insurance Co up by 16.40%, Tata AIG General Insurance Co up by 10.48%. However, Raheja QBE General Insurance Co down by 64.99%, HDFC Ergo General Insurance Co down by 34.29%, Royal Sundaram General Insurance Co down by 13.86%. 

Standalone health insurers, with market share of 11.77%, garnered gross direct premium underwritten of Rs 3,234.59 crore in February 2025 as compared to Rs 3,000.56 crore in February 2024, i.e. up by 7.80%. Among all, Aditya Birla Health Insurance Co up 27.23%, Niva bupa health insurance company up by 26.41%, Care Health Insurance up by 4.82%. However, ManipalCigna Health Insurance Co down by 19.13%.

Specialised insurers showed growth of 1.79% in gross direct premium underwritten at Rs 1113.64 crore in February 2025 as compared to Rs 1094.06 crore in the February 2024. Within the specialised insurers, premium of Agricultural Insurance Company of India up by 1.90%, while premium of ECGC up by 0.89% in the month of February this year.

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