Gross premium of non-life insurance firms increases 26.5% in November

Non-life insurance companies’ total premium collection rose by 26.5% to Rs 12,551.26 crore in November 2018 from Rs 9,921.21 crore in the same month a year ago period, according to Insurance Regulatory and Development Authority of India (IRDAI) data.

Out of the 33 non-life insurance firms, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4% from November 2017. Six standalone private health insurers registered a jump of 48% in their premium income at Rs 903.06 crore last month. However, two specialised PSU insurers -- Agricultural Insurance Company of India and Export Credit Guaranteed Corporation of India -- reported a combined premium of Rs 150.09 crore, down 29.7% from the year-ago period.

Cumulatively, gross premium of all the companies during April-November rose 13.24% to Rs 108,726.93 crore compared to Rs 96,010.66 crore in the same period last year.