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Non-life insurers' premium collection rises 14% to Rs 1.73 trillion during April-February
23-Mar-20   10:03 Hrs IST

Non-life insurance companies reported a 14% increase in the premium collection to Rs 1.73 trillion during April-February this financial year, according to the Insurance Regulatory and Development Authority of India (Irdai) data.

As many as 34 non-life insurance companies had collected a total premium of over Rs 1.52 lakh crore in the same period of 2018-19.

Public sector insurance firms witnessed a rise of 11% in their premium income at Rs 76,369.72 crore during the first 11 months of 2019-20, the data showed.

The two specialised public sector companies, AIC and ECGC, reported a 25% jump in the collection at Rs 10,032.72 crore in the period.

Private sector non-life insurance providers collected a total premium of Rs 97,072.18 crore during April-February 2019-20, up by 17% a year ago.

Seven standalone health insurers in the private sector reported a 21.31% jump in their total premium income at Rs 12,602.31 crore in the period as against Rs 9,633.21 crore during the year-ago period.
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