• SMC open account icon Open an A/C
    • Open an A/C
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Budget News

  • Non-life insurers see positive premium growth in June but Q1 sees 4% drop
  • July 10,2020  09:29

  • After witnessing a drop in premiums for two consecutive months in April and May, non-life insurers have seen positive growth of 7.82% in gross premiums in June. But the first quarter (Q1) of the current financial year (2020-21, or FY21) saw premiums of non-life insurers decline 4.24% year-on-year (YoY) owing to the lockdown.

    In June, non-life insurers — general insurers, standalone health insurers, and specialised public sector (PSU) insurers — recorded gross premiums to the tune of Rs 13,961.25 crore, compared to Rs 12,947.89 crore last year in the same month. In Q1FY21 though, premiums collected by insurers stood at Rs 39,329.62 crore versus Rs 41,072.14 crore — a drop of more than 4%.

    The non-life insurance industry has 25 general insurers (including four state-owned general insurers), five standalone private health insurers, and two specialised PSU insurers.

    The general insurers reported 4.11% growth in premiums in June, with premiums to the tune of Rs 12,375.67 crore, compared to Rs 11,886.17 crore. For Q1 of 2019-20 (FY20), general insurers collected Rs 35,667.60 crore as premiums, compared to Rs 37,934.61 crore in the same period last financial year, witnessing a drop of almost 6% YoY.

    Among the top general insurers, which command a sizeable market share, state-owned The New India Assurance reported 5.29% growth YoY in Q1, followed by another state-owned insurer United India Insurance, with 8.34% growth in premiums. The large private sector insurers, such as ICICI Lombard, Bajaj Allianz General, HDFC Ergo, and Reliance General Insurance, registered a drop in premium collection in Q1FY20.

    Standalone private health insurers reported an impressive 42% growth in premiums for June at Rs 1,311.31 crore, and for the quarter, they recorded 15.76% growth, with premiums collected to the tune of Rs 3,232 crore. Due to the pandemic, the retail health portfolio has seen good growth, as consumers have felt the need to get protection in these uncertain times.

    Powered by Capital Market - Live News

Top News
Economy News

Follow us:

  • fb icon
  • Twitter icon
  • Linkedin
  • you tube

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Global Securities Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Global Securities Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid from 28-01-2020 to 27-01-2023 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email –, website:

The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time.

The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Global Securities Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Global Securities Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.


Toll-free : 1800-11-0909

Plus Minus 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory