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13% increase insurer premium |
The 34 non-life insurers had a gross premium of Rs 1.51 lakh crore in 2017-18. Among these insurers, as many as 25 are categorised as general insurers, seven as standalone private sector insurers while the rest of the two are government-owned specialised insurers.
For the 25 general insurers, the collective gross premium in 2018-19 stood at Rs 1.50 lakh crore, up by nearly 13 per cent from Rs 1.33 lakh crore a year ago, showed the Insurance Regulatory and Development Authority of India (Irdai) data.
While the standalone private health insurers witnessed a rise of 37 per cent in their combined premium to Rs 11,368.82 crore in the financial year ended March 2019, against Rs 8,314.27 crore a year ago.
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