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Non-life insurers see 12% rise in gross direct premium income in Aug: Irdai

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registered a 12 per cent yearly growth in their gross direct premium income during August this fiscal at Rs 24,471.95 crore, data from sector regulator showed.

In the same month a year ago, all the 31 non-life companies in the domestic market had garnered a gross premium income of Rs 21,867.93 crore.

According to the data provided by the Regulatory and Development Authority of India (Irdai), a total of 24 witnessed a 9.3 per cent growth in their collective gross direct premium income in August at Rs 17,101.75 crore as against Rs 15,648.63 crore in the year-ago period.

The five standalone health insurance providers reported a jump of 28 per cent in their gross direct premium income during the month at Rs 2,059.38 crore. The figure stood at Rs 1,609.75 crore in August 2021.

The rest two specialised public sector insurers in the non-life space witnessed a 15.2 per cent rise in their combined premium income in August 2022 at Rs 5,310.82 crore as against Rs 4,609.55 crore a year ago.

On a cumulative basis, all the 31 players’ gross direct premium income in April-August period of 2022-23 rose by 18.57 per cent to Rs 1,02,357.29 crore. It was Rs 86,329.09 crore in same period of 2021-22.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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