INSURANCE
Non-life insurance firm’s premium income rises 23% in July: IRDAI
Aug-21-2019

The Insurance Regulatory and Development Authority of India’s (IRDAI) data has showed that non-life insurance firms earned a premium income of Rs 14,378.45 crore in July 2019, as compared to Rs 11,715.05 crore in the corresponding month a year ago, showing a growth of nearly 23%.

Out of the 34 non-life insurance firms, 25 general insurers recorded a rise of 14% in their collective premium in July at Rs 12,275.93 crore as against Rs 10,782.34 crore in the same month of 2018. The 7 standalone private sector health insurers witnessed a 44% jump at Rs 1,116.85 crore from Rs 777.01 crore premium collected a year before.

Meanwhile, Agricultural Insurance Company of India and ECGC, the remaining two specialised PSU insurers, saw their combined premium income soar more than six-times to Rs 985.66 crore. According to the data, on a cumulative basis, the total premium during April-July period of 2019-20 increased 13% to Rs 55,450.42 crore.

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