Non-life insurers premium income grows over 37% in January

Kolkata Feb 24 (IANS) Non-life insurance companies posted over 37 per cent increase in their gross premium income (direct premium income underwritten) to Rs 12 123.53 crore in January as compared to Rs 8 840.90 crore in the year-ago month.

According to data compiled by the Insurance Regulatory and Development Authority (IRDA) private sector insurers gross direct premium income underwritten in January stood at Rs 5 895.95 crore up by 39 per cent from Rs 4 240.06 crore.

The same for public general insurers in the last month was at Rs 6 227.58 crore registering a 35 per cent growth from Rs 4 600.84 crore.

Standalone private health insurers gross direct premium income underwritten was at Rs 661.01 crore in January from Rs 485.11 crore in the year-ago month.

As many as 29 non-life insurers in the first ten months (April-January) of the current fiscal reported nearly 32 per cent increase in their gross direct premium income underwritten to Rs 1 03 654.62 crore as compared to Rs 78 709.01 crore in the corresponding period last year.

Public general insurers have the market share of 53.84 per cent and private players have a the market share of 46.16 per cent.

--IANS
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