INSURANCE
Premium income of non-life insurance firms increases around 13% in June
Jul-23-2018

In June 2018, premium income of non-life insurance firms rose to Rs 12,947.50 crore from Rs 11,495.83 crore in June 2017, showing an increase of around 13%. Out of the 33 non-life insurance players, 25 general insurance firms reported an increase of 6.4% in their premium at Rs 11,547.71 crore in June against Rs 10,852.92 crore in the same month a year ago.

The 6 stand-alone health insurance providers collected premium of Rs 710.50 crore during the month, up 36.2% from Rs 521.63 crore a year earlier, IRDAI data showed. Agricultural Insurance Company of India and Export Credit Guaranteed Corporation of India, the two specialised PSU insurers collected premium of Rs 689.29 crore in June 2018, a jump of over five fold from Rs 121.28 crore in June 2018.

Cumulatively, all the 33 non-life players witnessed an increase of 12.20% in total premium collection at Rs 37,349.40 crore during April-June period of 2018-19. In 2017-18, the gross premium in the first three months stood at Rs 33,287.04 crore.

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