Thursday, October 19, 2017

India’s non-life premiums up 13.6%

The gross premiums generated by India’s non-life insurers rose 13.6% on-year to Rs175.30 billion (US$2.68 billion) in September this year, according to data from the Insurance Regulatory and Development Authority of India (Irdai).

For the same month last year, the country’s non-life companies were able to underwrite premium of Rs154.28 billion.

According to the latest statistics from Irdai, public sector players booked a premium of Rs98.12 billion in September, representing a 7% increase from the Rs91.63 billion logged in the same month last year.

As for the private sector non-life insurers, the collection was at Rs77.18 billion or a surge of 23%.

Bajaj Allianz earned Rs13.87 billion in premiums in September, up 52.3%; ICICI Lombard, Rs12.18 billion, up 22.1%; HDFC Ergo General, Rs10.05 billion, up 0.7%; and Reliance General, Rs8.77 billion, up 1.6%.

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