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Non-life insurers' gross premium income rises 24% to Rs 21,327 cr in April

The non-life insurance companies had a gross premium business worth Rs 17,251.10 crore in April 2021

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Non-life insurers | Companies | Insurance companies

Press Trust of India  |  New Delhi 

Insurance

The gross premium income of non-life grew nearly 24 per cent to Rs 21,326.58 crore in April, data from showed on Friday.

The non-life had a gross premium business worth Rs 17,251.10 crore in April 2021.

Of the total 31 non-life insurance companies, 24 general insurers registered a growth of 23.57 per cent in their gross direct premium written in April at Rs 19,705.86 crore, according to data from the Insurance Regulatory and Development Authority of India (IRDAI).

These general insurers had registered a premium income worth Rs 15,946.91 crore in April 2021.

The five standalone private sector health posted a 29.14 per cent growth in their collective gross premium income during the month at Rs 1,550.14 crore, as against Rs 1,200.34 crore in the year-ago period.

However, the two specialised PSU insurers -- Agricultural Insurance Company of India and ECGC Ltd -- witnessed a decline of over 32 per cent in their combined premium income at Rs 70.57 crore in April as against Rs 103.85 crore in the same period a year ago.

While ECGC registered a growth of 53.41 per cent at Rs 68.62 crore, Agricultural Insurance Company of India reported a slump of 96.70 per cent in its premium income at Rs 1.95 crore in April.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, May 13 2022. 21:01 IST
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