Non-life insurance coverage firms registered a year-on-year rise of 24 per cent of their collective gross direct premium in Might this 12 months at Rs 15,404.45 crore, knowledge from regulator Irdai confirmed on Friday.
Non-life insurance coverage gamers had registered a gross direct premium price Rs 12,423.98 crore in Might 2021.
Break-up smart, 25 basic insurers among the many 31 non-life gamers witnessed a rise of 24 per cent within the gross direct premium in Might 2022 at Rs 13,566.18 crore, as towards Rs 10,954.18 crore in the identical month a 12 months in the past, the Insurance coverage Regulatory and Improvement Authority of India (Irdai) knowledge confirmed.
The 5 standalone non-public sector medical insurance firms reported a rise of 23.6 per cent in gross premium in the course of the month at Rs 1,708.86 crore, as towards Rs 1,382.71 crore.
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The 2 specialised PSU insurers reported a bounce of 48.6 per cent in gross direct premium at Rs 129.42 crore in Might this 12 months, up from Rs 87.09 crore a 12 months in the past.
Cumulatively, the gross direct premium of all of the non-life insurers throughout April-Might interval of the present fiscal 12 months rose by 22.8 per cent to Rs 36,680.69 crore. It stood at Rs 29,867.41 crore in the identical month a 12 months in the past.
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