Non-Life Insurers Log 12% Rise In Premium At Rs 15,981 Crore In December
A customer fills up an insurance policy form. (Photographer: Akio Kon/Bloomberg)

Non-Life Insurers Log 12% Rise In Premium At Rs 15,981 Crore In December

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Non-life insurance companies reported a rise of 11.5 percent in premium collections at Rs 15,980.81 crore in December 2019, showed Insurance Regulatory and Development Authority of India data.

As many as thirty-four non-life insurance companies had collected a total premium of Rs 14,334.98 crore in the same month a year ago.

Of all the insurers, 25 general insurance firms reported a rise of 4 percent in their combined premium during December at Rs 14,037.51 crore, as against Rs 13,502.48 crore in the year-ago period, according to the IRDAI data.

Seven standalone private sector health insurers collected Rs 1,258.14 crore premium during the month, up by 16.3 percent from a year ago.

Two specialised PSU insurers -- Agricultural Insurance Company of India Ltd. and ECGC Ltd. -- earned Rs 685.16 crore as premium income in December 2019.

There was a combined premium income loss of Rs 249.32 crore for the 'specialised PSU insurers' category in the year-ago period, showed the data.

Cumulatively, the premium of all 34 non-life insurance companies during April-December period of 2019-20 rose by 15.41 percent to Rs 1,42,023.78 crore from Rs 1,23,061.94 crore a year earlier.

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