Non-life insurers see a 4.41% drop in premium collection in September

Standalone health insurers, however, see a 38% spike in collections on the back of heavy demand for health covers

After witnessing growth in premium for two months, non-life insurers are back in the red in September with premium collection slipping 4.41 per cent, despite a jump in premium collection by standalone health insurers. 

In September, non-life insurers, which include general insurers, standalone health insurers, and specialised public sector insurers, collected premium of Rs 23,056 crore, against Rs 24,121.56 crore in the same period last financial year. Standalone health insurers, on the other hand, saw their premium collection surge almost 38 per cent in September to Rs 1,542 crore, against Rs 1,118.25 crore in the year-ago period. 

This is driven by the