INSURANCE
Non-life insurers register 28% rise in September premium at Rs 24,563.24 crore: IRDAI
Oct-16-2019

The Insurance Regulatory and Development Authority of India (IRDAI) in its latest data has showed that India’s Non-life insurance companies witnessed 28.3 percent rise in their collective new premium at Rs 24,563.24 crore in September 2019 as compared to Rs 19,141.65 crore in September 2018.

Of the all 34 non-life insurers, 25 general insurers reported a rise of 39.3 percent in their combined premium during the month at Rs 20,145.46 crore as against Rs 14,463.60 crore in September 2018. The seven stand-alone private sector health insurance companies clocked Rs 1,115.75 crore premium in September this year, up 21.6 percent from Rs 917.38 crore in the year-ago period. The rest two specialised PSU insurers, Agricultural Insurance Company of India and ECGC, saw a decline of 12.2 percent in their premium income at Rs 3,302.02 crore compared to Rs 3,760.67 crore.

On a cumulative basis, premium collection of all non-life insurers during April-September this fiscal rose by 17.23 percent to Rs 95,978.99 crore. The 25 general insurers witnessed 16.84 percent increase in their combined premium income at Rs 82,802.51 crore, and the seven stand-alone private sector health insurers registered rise of 36.12 percent to Rs 6,096.98 crore. The two specialised PSU insurers recorded 8.5 percent increase in premium at Rs 7,079.50 crore in April-September this fiscal.

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