INSURANCE
Gross direct premium collection of non-life insurers rises 14% in April
May-22-2019

The Insurance Regulatory and Development Authority of India (Irdai) in its latest data has showed that gross direct premium collection of non-life insurers increased by 14.31% to Rs 15,866.16 crore in the month of April 2019, as compared to Rs 13,880.32 crore in April 2018. The growth was supported by rise in premium of health and general insurance.

As per the data, among the non-life insurers, General Insurers saw gross direct premium of Rs 14,948.83 crore in April, as against Rs 13,193.26 crore in the corresponding month of previous year, registering a growth of 13.31%. Stand-alone Private Health Insurers’ gross direct premium jumped 35.83% to Rs 832.07 crore from Rs 612.57 crore, while premium of Specialized PSU Insurers was up by 14.46% to Rs 85.27 crore for April 2019, as compared to Rs 74.50 crore for April 2018.

In General Insurers, the New India Assurance Company continued its dominant position with a market share of 18.61% in the reporting month. Followed by, ICICI Lombard General Insurance Company (9.66%), United India Insurance Company (8.74%), The Oriental Insurance Company (8.43%), National Insurance Company (7.97%), Bajaj Allianz General Insurance Company (6.96%) and Reliance General Insurance Company (5.02%).

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