Feb Gross Premium Up By Over 14% For Non-Life Insurers 

The premium collection stood at Rs 15,766.83 crore compared to Rs 13,805.33 crore last year

Feb Gross Premium Up By Over 14% For Non-Life Insurers 
Nirmala Konjengbam - 22 March 2021

The gross premium underwritten by the non-life insurers for the month of February stood at Rs 15,766.83 crore compared to Rs 13,805.33 crore in the same period last year, according to the data released by IRDAI. The premium collection for the non-insurers rose by 14.21 per cent as compared to the same period last year.

The non-life insurance industry consists of general insurers, standalone health insurers, PSU general insurers, and specialised PSU insurers.

The premium collection for private non-life insurers including general and standalone health insurers rose to Rs 9,059.98 crore from Rs 8,015.02 crore for the same period in the last year. The growth in the percentage terms stood at 13.04 per cent.

Just for private standalone health insurers, the premium collection rose by 2.23 per cent to Rs 1,426.27 crore from Rs 1,395.12 crore in the same period in 2020.

The PSU general insurers underwrote gross premium worth Rs 5,525.04 crore in February as compared to Rs 5,468.29 crore.

The premium collection for general insurers, private and public, stood at Rs 13158.76 crore witnessing a nine per cent growth from Rs 12088.2 crore in the same period last year.

The Agriculture Insurance Company of India and Export Credit Guarantee Corporation of India together accounted for a premium collection of Rs 1,181.81 crore, a 267 per cent growth as compared to the same period last year.

The premium collection for public insurers collectively rose by 15.83 per cent to Rs 6,706.85 crore from Rs 5,790.31 crore.

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