Non-life insurance industry reports a 21% YoY growth in premiums in June

In the June quarter, the non-life insurance industry netted premiums to the tune of Rs 54,492 crore, up 23 per cent YoY

The non-life insurance industry reported a 21 per cent year-on-year (YoY) growth in premiums in June, driven by healthy growth in premiums of private sector general insurers and standalone health insurers.

Further, in April – June quarter (Q1FY23), the industry netted premiums to the tune of Rs 54,492 crore, up 23 per cent YoY over the corresponding period last year.

In June, the gross direct premiums underwritten by the non-life insurers, which include general insurers, standalone health insurers, and specialised insurers, were to the tune of Rs 17,810.51 crore. General insurers, who operate in different lines of business such as