Non life gross premium up 25% in H1

The gross premium underwritten by the 20 non-life insurers across all the five segments during the six-month period between April and September, 2011 grew 25 per cent to Rs 25,883.58 crore as compared with Rs 20,691.72 crore in the corresponding period last year. The figures were released by the Insurance Regulatory and Development Authority (Irda).

Of the total premium business, the private sector accounted for Rs 10,881.82 crore, an increase of 27.6 per cent.

Compared with Rs 8,526.09 crore in the same period last year.

The same from the four public sector companies stood at Rs 15,001.75 crore, up 23.31 per cent from Rs 1,2165.63 crore.

The total gross premium figures exclude the business made by the four specialised institutions, namely ECGC, Star Health & Allied Insurance, Apollo DKV and Max Bupa, in the health insurance segment.

The growth in gross premium with the comparable six-month period varied from as low as 11.78 per cent in the case of Reliance Insurance to as high as 64 per cent for Shiram General. Among specialised players, Apollo Munich registered a 77 per cent jump in gross premium.