Non-life insurers reports 27 pct rise in premium collection during November 2018

The total premium collected by non-life insurance companies rose 26.5 per cent to Rs 12,551.26 crore in November 2018, according to Irdai data. The 33 companies in the non-life insurance business garnered gross direct premium of Rs 9,921.21 crore in the same month a year ago. Of these, 25 general insurance companies wrote gross direct premium of Rs 11,498.11 crore, up 26.4 per cent from November 2017.

Six standalone private health insurers registered a jump of 48 per cent in their premium income at Rs 903.06 crore last month. As per the data, two specialised PSU insurers --Agricultural Insurance Company of India and Export Credit Guaranteed Corporation of India -- reported a combined premium of Rs 150.09 crore, down 29.7 per cent from the year-ago period.

Cumulatively, a gross premium of all the companies during April-November rose 13.24 per cent year-on-year to Rs 1.09 lakh crore, the data by Insurance Regulatory and Development Authority of India (Irdai) showed. The gross premium in the same period last year stood at Rs 96,010.66 crore.