Non-life insurers register 7.2% rise in January premium income at Rs 17,226 crore

India’s non-life insurance companies registered a 7.2 per cent rise in their combined new premium collection at Rs 17,225.75 crore in January this fiscal, Irdai data showed. The 35 insurers’ gross premium collection stood at Rs 16,076.28 crore in the same month a year ago.

Among these, the 25 general insurance providers had a collective premium of Rs 14,643.26 crore during the month, up 2.2 per cent from the same period of 2019, as per the Insurance Regulatory and Development Authority of India’s (Irdai) data.

The seven stand-alone private sector non-life insurers registered a 28 per cent jump in their collective premium income at Rs 1,530.75 crore in January.

The rest of the specialised PSU insurers — Agricultural Insurance Company of India and ECGC Ltd — reported 92 per cent spurt in total premium at Rs 1,051.73 crore during the month.

Cumulatively, the premium during April-January of this fiscal for non-life insurance companies rose 14.52 per cent to Rs 1.59 lakh crore.

Source: Financial Express