INSURANCE
Gross premium income of non-life insurance companies grows 24% to Rs 21,326.58 crore in April: IRDAI
May-16-2022

The Insurance Regulatory and Development Authority of India (IRDAI) in its latest data has showed that the gross premium income of non-life insurance companies grew nearly 24 per cent to Rs 21,326.58 crore in April. The non-life insurance companies had a gross premium business worth Rs 17,251.10 crore in April 2021.

As per the data, of the total 31 non-life insurance companies, 24 general insurers registered a growth of 23.57 per cent in their gross direct premium written in April at Rs 19,705.86 crore. These general insurers had registered a premium income worth Rs 15,946.91 crore in April 2021. The five standalone private sector health insurance companies posted a 29.14 per cent growth in their collective gross premium income during the month at Rs 1,550.14 crore, as against Rs 1,200.34 crore in the year-ago period.

However, the two specialised PSU insurers -- Agricultural Insurance Company of India and ECGC -- witnessed a decline of over 32 per cent in their combined premium income at Rs 70.57 crore in April as against Rs 103.85 crore in the same period a year ago. While ECGC registered a growth of 53.41 per cent at Rs 68.62 crore, Agricultural Insurance Company of India reported a slump of 96.70 per cent in its premium income at Rs 1.95 crore in April.

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