Non-life Insurance

Non-life premiums fall 6.5% in September as crop, auto segments drag

In H1, premiums of non-life insurers were up 7% Y-o-Y

Tech age of insurance: India emerges as fastest-growing market globally

A country where insurtech companies are rapidly gaining market share. These are firms that make innovative use of technology in insurance

Premiums of general insurance companies rise 13.65% in October 2023

In terms of the market share, the public sector general insurers stood at 31.60 per cent of the overall insurance industry in October 2023, down from 33.01 per cent in October 2022

Premiums of non-life insurance companies rise by 14.86% in H1FY24

Public sector general insurers reported a 30.64 per cent surge in premium, while private insurers recorded a 21.49 per cent increase during this time

Non-life insurance companies report 14% growth in June, shows GIC data

For the April-June period, these companies reported a growth of 17.5% to Rs 63,574.30 crore

Motor, health drive non-life industry growth; premiums up by 17% till Feb

Till Feb, sector sees premiums going up by 17% to Rs 2.32 trn

Insurance body GIC opposes govt nominee in life and non-life councils

Says both umbrella bodies are self-regulated and don't depend on funds from finance ministry; govt nominees may hamper their autonomy

After poor show in Sept, non-life insurers' premiums up 15.5% YoY in Oct

Demand for health and motor insurance to continue though growth may dip, say experts

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5% to 4% for 2022-23. The impact of the reduction on GIC Re will be Rs 2,000 crore

Compensation to blame: Amendments to strengthen law on industrial accidents

Proposed amendments to the Public Liability Insurance Act may end the high level of non-compliance among companies

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5 per cent to 4 per cent for FY23. The impact of the reduction on GIC Re would be around Rs 2,000 crore

IRDAI constitutes two task forces on issues of reinsurance support

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos of the general insurance firms

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

Non-life insurance firms register 7% rise in gross premium at Rs 18,953 cr

The non-life insurance companies had underwritten gross premium valuing at Rs 17,662.32 crore in December 2020

Surge in Covid-19 cases leaves non-life insurers on tenterhooks

In FY21, non-life insurers had settled 849,034 claims amounting to Rs 7,833 crore

Non-life insurers' gross direct premium up 5.5% to Rs 15,743 cr in Nov

The 31 non-life insurance companies had written premiums worth Rs 14,919.43 crore in November 2020

BFSI Insight Summit: Why should we not seek subsidy, ask panelists

Say customer engagement has been one of the pain points for insurers, historically

New India on hiring drive, uncertainty continues for other 3 non-life PSUs

Even as The New India Assurance Company Ltd is on a massive recruitment drive, suspense continues in the case of the remaining three government owned non-life insurers, said industry officials.

Non-life insurance: Q1 Covid-related claims higher than in entire FY21

Reimbursement claims, possibility of a third Covid wave keep non-life insurers on tenterhooks

Retail health continues to shine as motor and crop insurance slide

Till January, the health insurance segment has grown 14.59 per cent to Rs 48,501 crore