Non-life insurers log 11.5% rise in premium at Rs 15980 crore in Dec 2019

Non-life insurance companies reported a rise of 11.5 per cent in premium collections at Rs 15,980.81 crore in December 2019, showed Irdai data. As many as thirty-four non-life insurance companies had collected a total premium of Rs 14,334.98 crore in the same month a year ago.

Of all the insurers, 25 general insurance firms reported a rise of 4 per cent in their combined premium during December at Rs 14,037.51 crore, as against Rs 13,502.48 crore in the year ago period, according to the Insurance Regulatory and Development Authority of India (Irdai) data.

Seven stand-alone private sector health insurers collected Rs 1,258.14 crore premium during the month, up by 16.3 per cent from a year ago. Two specialised PSU insurers -- Agricultural Insurance Company of India Limited and ECGC Limited -- earned Rs 685.16 crore as premium income in December 2019.

There was a combined premium income loss of Rs 249.32 crore for the 'specialised PSU insurers' category in the year-ago period, showed the data. Cumulatively, the premium of all 34 non-life insurance companies during April-December period of 2019-20 rose by 15.41 per cent to Rs 1,42,023.78 crore from Rs 1,23,061.94 crore a year earlier.