Gross direct premium of non-life insurance companies rises 22% April: Irdai

Insurance Regulatory and Development Authority (Irdai) data showed that the gross direct premium written by non-life insurance companies rose by over 22 per cent in April this year to Rs 17,309.54 crore. All the 33 insurance companies in the non-life segment had generated gross written premium of Rs 14,174.10 crore in the same month of 2020.

The data showed of these, the 25 players which are categorised as general insurers registered nearly 20 per cent increase in their collective gross premium at Rs 15,946.46 crore in April 2021, as against Rs 13,328.16 crore in year-ago same period. The five standalone health insurance providers witnessed more than 43 per cent jump in gross premium at Rs 1,259.23 crore as against Rs 809.20 crore.

As per the Irdai data, two specialised state owned PSU insurers -- Agricultural Insurance Company of India Limited and ECGC Limited -- had their combined premium during the month soaring by 183 per cent to Rs 103.85 crore, as against Rs 36.74 crore in April 2020.