Kolkata April 10 (IANS) As many as 30 non-life insurers posted a 32 per cent increase in their gross premium income (direct premium income underwritten) to Rs 1 27 212.43 crore in 2016-17 compared with Rs 96 376.40 crore in 2015-16 an IRDAI report released on Monday said.
According to provisional data compiled by the Insurance Regulatory Authority of India (IRDAI) gross direct premium income underwritten in March was Rs 13 269.38 crore up by over 33 per cent from Rs 9 950.01 crore in the year-ago month.
The data showed private sector general insurers gross premium income stood at Rs 59 522.75 crore in 2016-17 up by about 36 per cent from Rs 43 855.60 crore in the previous 2015-16 fiscal.
The corresponding figures for public general insurers including specialised PSU insurers in the 2016-17 fiscal was Rs 67 689.68 crore registering a 29 per cent growth from Rs 52 520.80 crore in 2015-16 the report said.
Standalone private health insurers gross direct premium income underwritten was Rs 5 859.80 crore in 2016-17 from Rs 4 152.31 crore in the year-ago month.
In March only public non-life insurers gross premium income stood at Rs 6 593.50 crore up by about 22 per cent from Rs 5 395.80 crore in the corresponding month of previous fiscal.
Similarly private players premium income in March was at Rs 6 675.88 crore registering a 46 per cent growth over Rs 4 554.21 crore in the same month of previous fiscal year.
Public general insurers have the market share of 53.21 per cent while private players have 46.79 per cent.
--IANS
bdc/tsb/vm
Non-life insurers premium income grew 32% in 2016-17
