Premium of non-life insurers rises 26.5% to Rs 125.51 bn in Nov 2018: Irdai

The total premium collected by non-life insurance companies rose 26.5 per cent to Rs 125.51 billion in November 2018, according to Irdai data.

The 33 companies in the non-life insurance business garnered gross direct premium of Rs 99.21 billion in the same month a year ago.

Of these, 25 general insurance companies wrote gross direct premium of Rs 114.98 billion, up 26.4 per cent from November 2017.

Six standalone private health insurers registered a jump of 48 per cent in their premium income at Rs 90.3 billion last month.

As per the data, two specialised PSU insurers --Agricultural Insurance Company of India and Export Credit Guaranteed Corporation of India -- reported a combined premium of Rs 1.50 billion, down 29.7 per cent from the year-ago period.

Cumulatively, gross premium of all the companies during April-November rose 13.24 per cent year-on-year to Rs 1.09 trillion, the data by Insurance Regulatory and Development Authority of India (Irdai) showed.

The gross premium in the same period last year stood at Rs 960.10 billion