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Non-life insurance premium increases 5% during February

Mar 20 2014, 04:19 IST
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SummaryThe premium income of non-life insurance companies, including that of four public sector entities, grew 5% in February to R6,066.30 crore.

The premium income of non-life insurance companies, including that of four public sector entities, grew 5% in February to R6,066.30 crore.

The four PSU entities - National Insurance, New India Assurance, Oriental Insurance and United India Insurance - saw their gross premium collection rise by 2.6% year-on-year to R3,394.83 crore in February.

During the month, these four entities accounted for about 56% of the total premium collected by general insurance companies.

The gross premium of 28 players in the general insurance market during April-February period of 2013-14 rose by 12.84% to R69,833.07 crore, according to data available with Insurance Regulatory and Development Authority (Irda).

For April-February period, the premium collected by public general insurance companies grew by 10.9% from a year earlier to

R39,069.61 crore, Irda data showed. Amongst the private sector players, L&T General witnessed a rise of 37% in its premium income to R21.40 crore in February.

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