Non-life insurers' premium up 19% during April-May

Non-life insurers’ premium grew 19 per cent to Rs 7,392 crore in the first two months of the current financial year, as compared to the corresponding period last year.

During April-May this year, non-life insurers mopped up Rs 7,392.19 crore against Rs 6,218.42 crore in the previous year, according to data from the Insurance Regulatory and Development Authority (Irda). The four state-run insurers fared better than their private counterparts, with New India Insurance collecting the maximum premium, it added. New India Insurance mopped up Rs 1,365.83 crore premium during the April-May period, compared to Rs 1,174 crore in the previous year — growing 16.34 per cent. United India Insurance registered growth of 22.47 per cent by collecting a premium of Rs 1,094.72 crore in the first two months of the current financial year, as compared to Rs 893.87 crore during the corresponding period in the previous year.