Non-life insurers log 12% rise in premium at 15,981 crore in Dec 2019

NEW DELHI : Non-life insurance companies reported a rise of 11.5% in premium collections at ₹15,980.81 crore in December 2019, showed Irdai data.

As many as thirty-four non-life insurance companies had collected a total premium of ₹14,334.98 crore in the same month a year ago.

Of all the insurers, 25 general insurance firms reported a rise of 4% in their combined premium during December at ₹14,037.51 crore, as against ₹13,502.48 crore in the year ago period, according to the Insurance Regulatory and Development Authority of India (Irdai) data.

Seven stand-alone private sector health insurers collected ₹ 1,258.14 crore premium during the month, up by 16.3% from a year ago. Two specialised PSU insurers - Agricultural Insurance Company of India Limited and ECGC Limited - earned ₹ 685.16 crore as premium income in December 2019.

There was a combined premium income loss of ₹ 249.32 crore for the 'specialised PSU insurers' category in the year-ago period, showed the data.

Cumulatively, the premium of all 34 non-life insurance companies during April-December period of 2019-20 rose by 15.41% to ₹ 1,42,023.78 crore from ₹ 1,23,061.94 crore a year earlier.

Source: Live Mint