INSURANCE
Gross premium of non-life insurance firms increases 16% at Rs 12,235 crore in May
Jun-14-2019

In May 2019, the total premium collected by non-life insurance companies rose 16.4 percent to Rs 12,234.78 crore from Rs 10,508.61 crore in May 2018, as per the data from the IRDAI. Out of 34 non-life insurance firms, 25 general insurers posted 13.7 percent rise in their total premium underwritten to Rs 11,076.15 crore. For the seven standalone private sector health insurance companies, the premium income jumped by 59 percent to Rs 1,039.73 crore. Two specialised PSU insurers - Agricultural Insurance Company of India and ECGC - witnessed flat growth in their collective premium income at Rs 118.90 crore, as against Rs 116.70 crore in May 2018.

In April-May period, all the non-life insurance firms witnessed a rise of 15.33 percent premium at Rs 28,126.62 crore. For the 25 general insurers, the premium was up by 13.61 percent at Rs 26,050.65 crore. Standalone health insurers (pvt sector) saw premium income rising by 47.74 percent to Rs 1,871.80 crore. The two specialised PSU insurers witnessed their premium income increasing by 6.79 percent to Rs 204.17 crore.

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