Non-life insurers report marginal decline in October premium collections

This, despite good growth in premiums by standalone health insurers, aided by rise in demand for health plans in the country

Non-life insurers have reported a marginal year-on-year (YoY) decline in premiums earned in October, despite standalone health insurers posting a 32 per cent growth in premiums, aided by the rise in demand for health insurance.
 
Non-life insurers were in the red in September also, with premium collection slipping 4.41 per cent.
 
According to the data released by the Insurance Regulatory and Development Authority of India (Irdai), non-life insurers’ premium in October contracted 0.41 per cent to Rs 15,855 crore, compared to Rs 15,921.92 core in the corresponding period last year. But, in the first seven months of the