INSURANCE
Non-life insurance premiums up 17% in August 2019
Sep-23-2019

Insurance Regulatory and Development Authority of India (Irdai) in its latest data has showed that India's non-life insurance companies registered a rise of 17% in their combined new premium collection at Rs 15,964 crore in August 2019 as compared to Rs 13,657.51 crore in the same month last year. Cumulatively, the gross premium underwritten by all the 34 non-life insurers during April-August period of the current fiscal rose by 14% to Rs 71,415.09 crore.

Out of the 34 non-life insurers, the 25 general insurance providers had a combined premium of Rs 12,447.10 crore during the month, up by 12% from same period of 2018. The seven standalone private sector non-life companies registered an increase of 33% in new premium income at Rs 1,070.29 crore. The two specialised public sector companies -- Agricultural Insurance Company of India and ECGC -- witnessed 42% jump in their collective premium income at Rs 2,446.61 crore.

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