Non-life insurers log 12% rise in premium at ₹15,981 crore in Dec 2019

The premium of all 34 non-life insurance companies during Apr-Dec period of 2019-20 rose by 15.41% to  ₹1,42,023.78 crore from  ₹1,23,061.94 crore a year earlier (Photo: Mint)

NEW DELHI : Non-life insurance companies reported a rise of 11.5% in premium collections at 15,980.81 crore in December 2019, showed Irdai data.

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

Of all the insurers, 25 general insurance firms reported a rise of 4% in their combined premium during December at 14,037.51 crore, as against 13,502.48 crore in the year ago period, according to the Insurance Regulatory and Development Authority of India (Irdai) data.

Seven stand-alone private sector health insurers collected 1,258.14 crore premium during the month, up by 16.3% from a year ago.

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

There was a combined premium income loss of 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% to 1,42,023.78 crore from 1,23,061.94 crore a year earlier.