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Non-life insurers witness 13 per cent rise in premium in FY19

PTI
Published Apr 19, 2019, 1:12 pm IST
Updated Apr 19, 2019, 1:12 pm IST
Non-life insurers registered 13 per cent increases in their collective premium income to Rs 1.70 lakh crore in FY19
The 34 non-life insurers had a gross premium of Rs 1.51 lakh crore in 2017-18.
 The 34 non-life insurers had a gross premium of Rs 1.51 lakh crore in 2017-18.

New Delhi: Non-life insurance firms registered a rise of 13 per cent in their collective premium income to Rs 1.70 lakh crore in the financial year ended March, according to data from Irdai.

The 34 non-life insurers had a gross premium of Rs 1.51 lakh crore in 2017-18. Among these insurers, as many as 25 are categorised as general insurers, seven as standalone private sector insurers while the rest of the two are government-owned specialised insurers.

 

For the 25 general insurers, the collective gross premium in 2018-19 stood at Rs 1.50 lakh crore, up by nearly 13 per cent from Rs 1.33 lakh crore a year ago, showed the Insurance Regulatory and Development Authority of India (Irdai) data.

While the standalone private health insurers witnessed a rise of 37 per cent in their combined premium to Rs 11,368.82 crore in the financial year ended March 2019, against Rs 8,314.27 crore a year ago.

However, the state-owned specialised insurers -- Agricultural Insurance Company of India and ECGC Ltd -- registered a drop of 7.75 per cent in premium at Rs 8,425.75 crore during the fiscal ended March 2019, as against Rs 9,133.78 crore in the previous financial year.

 

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Location: India, Delhi, New Delhi




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