Non-life insurers register 28% rise in September premium at Rs 24,563 crore

By: |
October 15, 2019 3:45 PM

The rest two specialised PSU insurers -- Agricultural Insurance Company of India and ECGC -- saw a decline of 12.2 per cent in their premium income at Rs 3,302.02 crore compared to Rs 3,760.67 crore.

The seven stand-alone private sector health insurance companies clocked Rs 1,115.75 crore premium in September this year, up 21.6 per cent from Rs 917.38 crore in the year-ago period.

Non-life insurance companies witnessed 28.3 per cent rise in their collective new premium at Rs 24,563.24 crore in September, according to Irdai data. All the 34 non-life insurers had collected business premium of Rs 19,141.65 crore in the same month a year ago. Among these, 25 general insurers reported a rise of 39.3 per cent in their combined premium during the month at Rs 20,145.46 crore as against Rs 14,463.60 crore in September 2018, as per the Insurance Regulatory and Development Authority of India (Irdai) data.

The seven stand-alone private sector health insurance companies clocked Rs 1,115.75 crore premium in September this year, up 21.6 per cent 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 per cent 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 per cent to Rs 95,978.99 crore.

The 25 general insurers witnessed 16.84 per cent increase in their combined premium income at Rs 82,802.51 crore, and the seven stand-alone private sector health insurers registered rise of 6.35 per cent to Rs 6,096.98 crore. The two specialised PSU insurers recorded 8.5 per cent increase in premium at Rs 7,079.50 crore in April-September this fiscal.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1COVID-19 impact: 65% people suffer loss of income, 55% may seek loan recast, says survey
2Faceless Assessment: The benefits and challenges taxpayers may experience
3Tata Mutual Fund launches ‘contact-less’ on-boarding for first-time investors