Non-life insurers’ register 9% rise in premium at Rs 19,098 cr in Sep

NEW DELHI: Non-life insurance companies reported a rise of 9 per cent premium income to Rs 19,098.51 crore in September, data from the Insurance Regulatory and Development Authority of India (Irdai) showed.
These insurance companies had earned premium of Rs 17,514.64 crore in September 2017.
Among these, 25 general insurance companies registered business premium of Rs 14,468.64 crore during the month under review, up by 8.2 per cent from Rs 13,373.16 crore in same month a year ago, as per the data.
The New India Aussurance Co earned a premium of Rs 2,450.28 crore in September 2018 which was almost flat as compared to a year ago; The Oriental Insurance Company Rs 1,552.05 crore, up 10 per cent; United Indian Insurance Co Rs 1,305.12 crore, up 10.3 per cent; HDFC Ergo General Insurance Co Rs 1,379.12 crore, up 37 per cent; ICICI Lombard General Insurance Co Rs 1,318.48 crore up 8.2 per cent.
Bajaj Allianz General Insurance Co witnessed fall in its premium income by 40 per cent to Rs 839.08 crore; National Insurance Company Ltd Rs 893.31 crore, down by 29.2 per cent and Cholamandalam MS General Insurance Rs 309.13 crore 28.5 per cent from year-ago level.
The six stand-alone private sector health insurance firms had a collective premium income of Rs 917.90 crore, an increase of 44.3 per cent from Rs 636.19 crore, as per the data by Irdai.
The two specialised PSU insurers –Agricultural Insurance Company of India and Export Credit Guaranteed Corporation of India — had premium income of Rs 111.92 crore during the month, down by 8.5 per cent from Rs 122.38 crore in September 2017.