INSURANCE
Non-life insurers witness 13% rise in premium in FY19: IRDAI
Apr-22-2019

The Insurance Regulatory and Development Authority of India (IRDAI) in its latest data has showed that Non-life insurance firms registered a rise of 13 percent in their collective gross premium income to Rs 1.70 lakh crore in the financial year ended March 2019, against Rs 1.51 lakh crore a year ago.

Out of the 34 non-life insurers, the collective gross premium for the 25 general insurers stood at Rs 1.50 lakh crore, up by nearly 13 percent from Rs 1.33 lakh crore a year ago. While the standalone private health insurers witnessed a rise of 37 percent in their combined premium to Rs 11,368.82 crore in the financial year ended March 2019, against Rs 8,314.27 crore a year ago.

However, the state-owned specialised insurers -- Agricultural Insurance Company of India and ECGC -- registered a drop of 7.75 percent in premium at Rs 8,425.75 crore during the fiscal ended March 2019, as against Rs 9,133.78 crore in the previous financial year.

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