INSURANCE
Non-life insurance companies post 11% rise in gross direct premium in FY22: Irdai
Apr-12-2022

The Insurance Regulatory and Development Authority of India (Irdai) in its latest data has showed that non-life insurance companies posted an 11 per cent rise in gross direct premium on a collective basis to Rs 2,20,634.73 crore in FY22. All the 31 non-life insurance players had underwritten a gross direct premium of Rs 1,98,714.72 crore in 2020-21.

As per the data, 24 general insurance companies registered an 8.79 per cent increase in their combined gross direct premium during 2021-22 at Rs 1,84,775.17 crore against Rs 1,69,844.68 crore in the previous fiscal. Five standalone private sector health insurance companies witnessed a 32.53 per cent jump in their gross direct premium income in FY22 to Rs 20,880.08 crore against Rs 15,755.18 crore a year ago.

According to the Irdai data, the two specialised PSU insurers -- Agricultural Insurance Company of India and ECGC -- posted a 14.22 per cent rise in their collective gross premium to Rs 14,979.47 crore compared to Rs 13,114.85 crore in FY21.

  RELATED NEWS >>