The premium collection of general insurance companies rose 20.9 per cent in July 2012 compared to July 2011, according to data released by Insurance Regulatory and Development Authority (Irda). The monthly business figures for July 2012 stood at Rs 5576.28 crore, compared to Rs 4609.1 crore in July 2011.
As a result the total premium for the April to July quarter stood at Rs 22162.51 crore, up by 18.7 per cent compared to the same quarter in the previous year. In 2011, the April to July quarter premium stood at Rs 18671.96 crore.
While the private non-life insurers registered a 17.5 per cent growth in April-July quarter 2012 compared with the same quarter in the previous year, the four state-owned general insurance companies’ collection was higher at 19.6 per cent in the same period.
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