Non-life insurers gross premium up 14% at Rs 13,881cr in April

Gross premium of non-life insurance companies rose by 14 per cent to Rs 13,880.74 crore in April compared to the same month of last year, according to the Irdai data.

Non-life insurance firms had recorded gross written premium of Rs 12,198.60 crore in April 2017.

Of the 33 non-life insurance firms, 25 are general insurers, six are standalone private players and two are specialised public sector undertakings.

The 25 general insurers wrote a collective premium of Rs 13,193.44 crore in April this year, up by 13.4 per cent from Rs 11,636.08 crore year ago same month.

For the standalone private sector health insurance providers, the gross written premium during the month rose by 29.2 per cent to Rs 612.81 crore against Rs 474.26 crore year earlier same month.

The two specialised PSU insurers --Agricultural Insurance Co of India and Export Credit Guaranteed Corporation of India--had a collection premium of Rs 74.49 crore in April, down by 15.6 per cent from Rs 88.26 crore, showed the data from the Insurance Regulatory and Development Authority of India (Irdai).