INSURANCE
Gross premium of non-life insurance firms increases 20% in July
Aug-23-2018

The gross direct premium of non-life insurance companies rose to Rs 11,714.87 crore in July 2018, from Rs 9,790.07 crore in the same month last year, showing a growth of 20%. Out of the 33 non-life insurance firms, 25 general insurers witnessed a rise of 23% in premium collection at Rs 10,782.37 crore during the month as against Rs 8,800.85 crore in the same period year ago.

Premium collection of six stand-alone private health insurers jumped 41% to Rs 776.80 crore in July 2018 from Rs 551.82 crore in July 2017. However, the rest of the two specialised PSU insurers had a combined gross premium of Rs 155.70 crore during the month, down 64.4% from Rs 437.40 crore year ago.

The gross premium collection of all the 33 non-life insurers rose by 14% to Rs 49,067.47 crore in April-June 2018-19 compared to Rs 43,076.26 crore in the same period of 2017-18.

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