NEW DELHI: In December 2019, non-life insurance companies announced an 11.5 percent increase in premium collections of some 15,980.81 crore, Irdai data showed.
As many as 34 non-life insurance companies in the same month a year earlier had received a cumulative premium of 14,334.98 crore.
According to data from the Insurance Regulatory and Development Authority of India (Irdai), of all insurers, 25 general insurance companies reported a 4 percent increase in their combined premium in December at some 14,037.51 crore, compared to some 13,502.48 crore in the year-earlier period.
During the month, seven independent private sector health insurers collected some 1,258.14 crore premium, up 16.3 per cent from a year ago.
In December 2019, two specialist PSU insurers — India Limited's Agricultural Insurance Company and ECGC Limited — received as premium income ~685.16 crore.
There was a total premium income loss of some 249.32 crore in the year-ago era for the group of' specialized PSU insurers,' the data showed.
Cumulatively, the premium of all 34 non-life insurance companies increased 15.41 percent from 1,23,061.94 crore a year earlier during the period April-December 2019-20 to around 1,42,023.78 crore a year earlier.
Tags : Insurance Regulatory and Development Authority of India, PSU,