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Budget News

  • Non-life insurers' premium income rise 11.35% to Rs 12,316 crore in May
  • June 10,2021  17:44

  • Gross direct premium of non-life insurance companies rose 11.35% on a yearly basis to Rs 12,316.50 crore in May 2021, data from Irdai showed. All the 32 non-life insurers' gross direct premium stood at Rs 11,061.02 crore in May 2020.

    Among these, the 25 players in the general insurance sector registered nearly 7.2% growth in premium collection during the month at Rs 10,822.77 crore as against Rs 10,098.30 crore in the year-ago period, as per the data by the Insurance Regulatory and Development Authority of India (Irdai).

    The six standalone private sector health insurance companies registered a jump of 66.6% in their gross premium at Rs 1,406.64 crore in May 2021, as against Rs 844.13 crore earlier.

    On a cumulative basis, the gross direct premium of all the non-life insurance companies grew by 17.5% to Rs 29,626 crore in April-May 2021-22, as against Rs 25,212.55 crore in the same period of the previous fiscal.

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