IRDAI Reports a 6 Percent Decline In the Premium Collection of Non-Life Insurers


As per the Insurance Regulatory and Development Authority of India’s (IRDAI) data, non-life insurance companies have recorded a decline of 5.55 percent in Gross Premium Income at ₹ 22,774 crores. This was seen during September for the current fiscal year.

The 34 non-life insurance companies had garnered a premium income of ₹ 24,111.78 crores in the same month of the previous fiscal year 2019-20.

IRDAI reports a 5.04 percent in private-sector non-life insurers premiums


In August, non-life insurers saw a 17 percent rise in their cumulative premium collection. All the 34 non-life insurance companies saw a 14 percent rise in the cumulative gross premium at ₹ 71,415.09 crores during the April-August period.

As per the IRDAI data, public sector insurers have seen a fall of 6.08 percent in Gross Premium collection at ₹ 10,959.88 crores in September FY21 as against ₹ 11,669.43 crores in the same month a year ago.

The private sector non-life insurance players have reported a fall of 5.04 percent in premium at 11,814 crores in September 2020 and against ₹ 12,442.35 crores a year ago.
Although the seven independent health insurers among the non-life insurance companies saw a 38.04 percent jump in premium income at ₹ 1,543.62 crores during the month from ₹ 1,118.24 crores a year ago.


The 34 non-life insurance companies saw an increase of 1.37 percent in the total premium collected during the April-September period to ₹ 96,831.55 crores. Their Gross Premium racked at ₹ 95,526.89 crores in the same 2019-20 period.

As per IRDAI’s data, the public sector insurers saw a 0.86 percent increase in the cumulative period at ₹ 43,347.49 crores during the April-September period. The private sector insurers saw a rise of 1.78 percent in their cumulative period collection at ₹ 53,484.06 crores during the April-September period.

The independent health insurers saw a growth of 28.10 percent in the cumulative premium at ₹ 7,812.39 crores during the same period.

Source: Mint

A 90's kid with a huge love for films, pop culture and everything related to them. I am also a cliché engineer turned writer and a filmmaking aspirant. I love writing and reading stories, watching and discovering films from all around the world. Basically, always in the search for stories.

Must Read

Woman arrested by Ludhiana rural police for husband’s murder

Ludhiana rural police arrested a woman for murdering her husband after a fight between the couple on Saturday night. The accused, Gurmeet Kaur of...

Using Digital Marketing To Bolster Success Anand Singh

NJ Traffic Ticket Payment Guide for Vehicle Owners