Page 2 - Non-life Insurance Premium

July non-life insurance premiums shrug off pandemic cloud: Care Ratings

The non-life insurance industry continued its strong performance with July numbers reporting 19.5 per cent growth in line with the trend seen during previous months, Care Ratings has said.Non-life insurance premium reached Rs 20,171 crore compared to Rs 16,885 crore in July 2020. The growth was driven by health and fire segments with motor segment also turning in positive numbers.Care said general insurers grew at 17.6 per cent for July which is higher than the 12.2 per cent growth witnessed in July last year. The year-to-date numbers grew at a 12.9 per cent for July versus a decline of 2.1 per cent in July FY21.The general insurance segment continues to maintain the highest share. However, its continued growth can be attributed to the health portfolio.Standalone private health issuers reported a sustained premium growth of Rs 1,753 crore in July 2021, demonstrating a growth of 27.5 per cent.A much sharper growth was observed in the YTD July FY22 numbers which reached Rs 5,976 crore ..

Non-life insurers' premium income up 7% YoY to Rs 14,809 cr in June

Sequentially, the premium income of non-life insurers was up 20 per cent, after a slump of 28 per cent in May

Non-life insurers' premium income rise 11.35% YoY in May to Rs 12,316 cr

Month-on-month, premium income declines 28.84% from April levels

Non-life insurers' premiums up 5% in FY21 on huge contraction in motor biz

In March, premiums of non-life insurers went up by 23%

Non-life insurance gross premiums up 14% to Rs 15,800 cr in Feb

Specialised PSU insurers in agri business and export covers see impressive 200% growth; general and standalone health insurers see 9% and 2% growth, respectively

Coming soon: Pay life insurance premium in advance, get a discount

IRDAI proposes to link discount with SBI savings bank rate, which is currently at 2.7%

Premiums of non-life insurers rise 10.38% in Aug, health insurers gain most

General insurers, 25 in all, saw their premium collection go up 5.57 per cent in August 2020 to Rs 13,139.63 crore, compared to Rs 12,445.83 crore in the same period last year

Premiums of non-life insurers rise 18.4% to Rs 17,011 cr in July

The biggest gainers were the standalone health insurers, 6 in all, with premiums rising more than 40 per cent to Rs 1,573.96 crore

Covid-19 impact: Non-Life insurance premiums fall more than 10% in April

Claims have also not risen sharply both in motor and health, giving some respite to insurance companies

Covid-19 impact: Motor, health segments see decline in March premiums

The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.

Motor, health segments see substantial fall in March for non-life insurers

Motor segment saw a 7 per cent decline in premiums, while health registered an 11 per cent decline in premiums

Covid-19 impact: Non-life insurers' premium collection falls 10.7% in March

In absolute terms, premium collected by general insurers was close to Rs 1.89 trillion in FY20, against Rs 1.69 trillion in FY19

With 30 days more to pay premium, make sure you don't let your policy lapse

Usually, general insurers give 30 days for health and 90 days for auto insurance policyholders to pay renewal premiums, even after the due date has passed

Non-life insurance premium rises 14% to Rs 1.73 trn during April-February

Private sector non-life insurance providers collected a total premium of Rs 97,072 .18 crore

Gross premiums of non-life insurers grow 15% to Rs 1.42 trillion

While the gross premiums underwritten by private non-life insurers grew by 17 per cent to Rs 69,488 crore, that of the state-owned non-life insurers grew by 12 per cent YoY to Rs 62,954 crore

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

Seven stand-alone private sector health insurers collected Rs 1,258.14 crore premium during the month

Non-life insurers post 13% rise in Nov premium to Rs 14,592 cr: IRDAI

The business premium in the same month of the previous year by these 34 non-life insurance firms stood at Rs 12,903.57 crore

Non-life insurers' premium revenue in September up 28% YoY to Rs 24,563 cr

All the 34 non-life insurers had collected business premium of Rs 19,141.65 crore in the same month a year ago

Non-life insurance premiums up 17% in August to reach Rs 15,964 cr

Among these, the 25 general insurance providers had a combined premium of Rs 12,447.10 crore during the month, up by 12 per cent

General insurers premium income rises 23% to Rs 14, 378 cr in July: Irdai

The 34 non-life insurance firms had collected a premium income of Rs 11,715.05 crore in the corresponding month a year ago