Non-life insurers' premium income grows over 37 pc in Jan

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SME Times News Bureau | 25 Feb, 2017
Non-life insurance companies posted over 37 per cent increase in their gross premium income (direct premium income underwritten) to Rs 12,123.53 crore in January as compared to Rs 8,840.90 crore in the year-ago month.

According to data compiled by the Insurance Regulatory and Development Authority (IRDA), private sector insurers' gross direct premium income underwritten in January stood at Rs 5,895.95 crore, up by 39 per cent from Rs 4,240.06 crore.

The same for public general insurers in the last month was at Rs 6,227.58 crore, registering a 35 per cent growth from Rs 4,600.84 crore.

Standalone private health insurers' gross direct premium income underwritten was at Rs 661.01 crore in January from Rs 485.11 crore in the year-ago month.

As many as 29 non-life insurers, in the first ten months (April-January) of the current fiscal, reported nearly 32 per cent increase in their gross direct premium income underwritten to Rs 1,03,654.62 crore as compared to Rs 78,709.01 crore in the corresponding period last year.

Public general insurers have the market share of 53.84 per cent and private players have a the market share of 46.16 per cent.