Non-life insurers registered a 12 per cent yearly development in their gross direct premium income throughout August this fiscal at Rs 24,471.95 crore, knowledge from insurance coverage sector regulator Irdai confirmed.
In the identical month a yr in the past, all of the 31 non-life insurance coverage corporations in the home market had garnered a gross premium income of Rs 21,867.93 crore.
According to the info supplied by the Insurance Regulatory and Development Authority of India (Irdai), a complete of 24 basic insurers witnessed a 9.3 per cent development in their collective gross direct premium income in August at Rs 17,101.75 crore as in opposition to Rs 15,648.63 crore in the year-ago interval.
The 5 standalone medical insurance suppliers reported a bounce of 28 per cent in their gross direct premium income through the month at Rs 2,059.38 crore. The determine stood at Rs 1,609.75 crore in August 2021.
The relaxation two specialised public sector insurers in the non-life area witnessed a 15.2 per cent rise in their mixed premium income in August 2022 at Rs 5,310.82 crore as in opposition to Rs 4,609.55 crore a yr in the past.
On a cumulative foundation, all of the 31 gamers’ gross direct premium income in April-August interval of 2022-23 rose by 18.57 per cent to Rs 1,02,357.29 crore. It was Rs 86,329.09 crore in the identical interval of 2021-22.
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