You are here: Home » Finance » News » Insurance
Business Standard

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

Non-life Insurance

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 India (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 Allianz wrote premium of Rs 1,387.08 crore in September (up 52.3 per cent); ICICI Lombard Rs 1,218.35 crore (up 22.1 per cent); HDFC Ergo General Rs 1,005.75 crore (up 0.7 per cent); Reliance General Rs 877.38 crore (up 1.6 per cent).

SBI 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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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