INSURANCE
Indian general insurance industry’s gross premium registers growth of 5% in February: IRDAI
Mar-14-2022

The Insurance Regulatory and Development Authority of India (IRDAI) in its latest data has showed that Indian general insurance industry’s gross premium registered growth of 5.17% at Rs 16,560.99 crore in the month of February 2022, as compared to Rs 15,746.99 crore in February 2021.

Of the total, the 25 general insurers earned Rs 14,173.59 crore during the period under review as against Rs 13,158.86 crore earned in February 2021. Six stand-alone private health insurers earned Rs 1831.63 crore in February 2022 over Rs 1406.32 crore in the corresponding month of last year, with Star Health & Allied Insurance Company leading the pack earning Rs 1,025.70 crore. The two specialised insurers - ECGC and Agricultural Insurance Company of India - logged negative growth while earning Rs 555.77 crore last month down from Rs 1,181.80 crore earned during February 2021.

The data also showed that on the cumulative basis, general insurance industry’s gross premium increased by 11.05% to Rs 199,043.08 crore during April-February 2021-22 as compared to Rs 179,237.83 crore during April-February 2020-21.

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