Don’t miss the latest developments in business and finance.

Non-life insurance premium up 13% at Rs 1.7 trillion in FY19: Irdai

The 34 non-life insurers had a gross premium of Rs 1.51 trillion in 2017-18

Car insurance
Press Trust of India New Delhi
2 min read Last Updated : Apr 19 2019 | 12:57 PM IST

Non-life insurance firms registered a rise of 13 per cent in their collective premium income to Rs 1.70 trillion in the financial year ended March, according to data from Irdai.

The 34 non-life insurers had a gross premium of Rs 1.51 trillion in 2017-18.

Among these insurers, as many as 25 are categorised as general insurers, seven as standalone private sector insurers while the rest of the two are government-owned specialised insurers.

For the 25 general insurers, the collective gross premium in 2018-19 stood at Rs 1.50 trillion, up by nearly 13 per cent from Rs 1.33 lakh crore a year ago, showed the Insurance Regulatory and Development Authority of India (Irdai) data.

While the standalone private health insurers witnessed a rise of 37 per cent in their combined premium to Rs 11,368.82 crore in the financial year ended March 2019, against Rs 8,314.27 crore a year ago.

However, the state-owned specialised insurers -- Agricultural Insurance Company of India and ECGC Ltd -- registered a drop of 7.75 per cent in premium at Rs 8,425.75 crore during the fiscal ended March 2019, as against Rs 9,133.78 crore in the previous financial year.

Also Read

First Published: Apr 19 2019 | 12:05 PM IST

Next Story