Non-life premium rises Rs. 814 cr in Feb
General insurers booked a total premium of Rs16,560.99 cr in Feb as against Rs15,746.99 cr earned in Feb 2021:IRDAI
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Chennai: Indian general insurance industry closed February 2022, with a gross premium of Rs16,560.99 crore, up by Rs 814 crore over the corresponding period last year.
According to the Insurance Regulatory and Development Authority of India (IRDAI), general insurers booked a total premium of Rs16,560.99 crore last month as against Rs15,746.99 crore earned in February 2021. During the period under review, the 25 member composite non-life insurers had earned Rs14,173.59 crore as against Rs13,158.86 crore earned in February 2021. Industry leader and government owned New India Assurance Company Ltd earned Rs2,245.03 crore.
While government-owned The Oriental Insurance Company Ltd had a marginal growth, United India Insurance Company Ltd and National Insurance Company Ltd registered negative growth during the period under review. The five stand alone health insurers had earned Rs1,831.63 crore up from Rs1,406.32 crore premium last month with Star Health & Allied Insurance Company Ltd leading the pack earning Rs1,025.70 crore.
The two specialised insurers, ECGC Ltd and Agricultural Insurance Company of India Ltd logged negative growth while earning Rs555.77 crore last month down from Rs1,181.80 crore earned during February 2021.
