Non-life insurers’ premium in Nov up 29% to Rs 9,163 cr

20/12/2016 17:06

Non-life insurers collected a gross premium of Rs 9,162.81 crore in November this year, a rise of 28.97 per cent from the year-ago period.

The non-life insurance companies, including both private and public sector, had collected a premium of Rs 7,104.42 crore in the same month a year ago.

Of the total premium generated during the month, the public sector companies registered a growth of 16.2 per cent in new business at Rs 4,484.48 crore against Rs 3,859.88 crore a year ago, showed data the released by Insurance Regulatory and Development Authority of India (Irdai).

While, the private sector non-life insurance firms witnessed an increase of 44.2 per cent in premium at Rs 4,678.33 crore as compared with Rs 3,244.54 crore in the year-ago period.

During April-November, the premium of all the non-life insurance companies rose by 61.68 per cent to Rs 81,770.55 crore as against Rs 62,098.83 crore in the eight-month a year ago.

For public sector companies, the new business till November this fiscal went up by 29.83 per cent to Rs 44,594.60 crore as against Rs 34,349.74 crore.

While, the premium underwritten by private sector non-life insurance companies stood at Rs 37,175.96 crore, up 33.97 per cent from Rs 27,749.09 crore a year ago, showed the data.

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