Non-life insurers' gross direct premium up 7% at Rs 14,809 crore in June
Of these, the 25 general insurance companies registered a 4.9% rise in gross direct premium during the month at Rs 13,041.51 crore
New Delhi: The gross direct premium written by non-life insurance companies grew nearly 7% to Rs 14,809.27 crore in June this year, data from sectoral regulator Irdai showed. The 32 non-life insurance companies in the country had reported gross direct premium of Rs 13,842.27 crore in June 2020.
Of these, the 25 general insurance companies registered 4.9% rise in gross direct premium during the month at Rs 13,041.51 crore as against Rs 12,435.71 crore in the year-ago period. The five standalone private-sector health insurers witnessed 46.6% jump in gross direct premium at Rs 1,556.89 crore from Rs 1,061.94 crore in June 2020.
Two specialised PSU insurers– Agricultural Insurance Company of India and ECGC Ltd — reported decline of 38.8% in combined gross direct premium during the month at Rs 210.87 crore from Rs 344.62 crore a year ago.
Cumulatively, the premium written by all the players during April-June 2021-22 was up 13.8% to Rs 44,434.96 crore as against Rs 39,054.82 crore in the same period of 2020-21.