Non-life insurance companies record an increase of more than 7% in gross premium to Rs 18,953 cr in December 2021

Gross direct premium written by non-life insurance companies increased by 7.3% to Rs 18,953.09 crore in December 2021, Irdai data showed on Monday. The non-life insurance companies had written a gross premium worth Rs 17,662.32 crore as of December 2020.

In a break, the 24 general insurance companies had recorded a gross premium of Rs 16,109.62 crore in December 2021, up 4.2% from the Rs 15,463.51 crore in the previous year, according to data from the Insurance Regulatory and Development Authority. of India (Irdai).

The five standalone health insurers recorded a 31.3% increase in their gross written premium to Rs 1,740.15 crore during the month from Rs 1,325.03 crore a year ago.

The two specialist PSU insurers – Agricultural Insurance Company of India Ltd and ECGC Ltd – recorded a 26.3% increase in their gross premium to Rs 1,103.33 crore from Rs 873.78 crore, according to the data.

On a cumulative basis, the gross premium written by all 31 non-life insurance companies recorded an increase of 11.18% to Rs 1,61,081.60 crore during the period April-December 2021-22 .

It stood at Rs 1,44,879.54 crore during the same period of 2020-21.

Kristan F. Talley