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Non-life insurers' Sept premium up 14% on yr at Rs 17,530.640 cr: Irdai

The non-life insurance firms had underwritten premium of Rs 15,428.17 crore in September 2016

Press Trust of India  |  New Delhi 


India's firms collected gross premium of Rs 17,530.64 crore in September this year, up 13.6 per cent from the same month last year, according to the Irdai data.

The firms had underwritten premium of Rs 15,428.17 crore in September 2016.

Public sector companies earned a premium of Rs 9,812.27 crore in September, up 7 per cent compared to Rs 9,163.48 crore in the same month last year, the data released by Regulatory and Development Authority of (Irdai) today showed.

Private sector non-life insurers collected Rs 7,718.37 crore during the month, up 23 per cent year-on-year.

Among private sector companies, Bajaj wrote premium of Rs 1,387.08 crore in September (up 52.3 per cent); Lombard Rs 1,218.35 crore (up 22.1 per cent); Ergo General Rs 1,005.75 crore (up 0.7 per cent); General Rs 877.38 crore (up 1.6 per cent).

General recorded premium of Rs 434.64 crore (up 90 per cent); Tata AIG Rs 387 crore (down 22 per cent) and Cholamandalam Rs 432.33 crore (up 32 per cent) among others.

Standalone private health insurers recorded a rise of 42.7 per cent in their premium at Rs 635.88 crore.

The two specialised public sector insurers -- ECGC and AIC -- reported a combined premium of Rs 3,505.28 crore, slightly down from a year ago.

Aditya Birla Health, that commenced operations in October 2016, registered premium of Rs 16.09 crore.

On cumulative basis, total premium collected by all the non-life insurers grew by 19.46 per cent to Rs 72,564.42 crore during April-September.

Public sector companies witnessed a growth of 14.42 per cent at Rs 37,607.56 crore while private sector firms earned premium of Rs 34,956.86 crore, a rise of 25.41 per cent over the same duration a year ago.

First Published: Tue, October 10 2017. 22:03 IST