Premium income of general insurance companies rises to Rs 24,472 crore in August

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Premium income of general insurance companies rises to Rs 24,472 crore in August


Photo:FILE Insurance Premium

The gross direct premium income of general insurers during August grew 12 per cent year-on-year to Rs 24,471.95 crore. According to the data of Insurance Regulatory and Development Authority of India (IRDA), in the same month a year ago, all the 31 general insurance companies in the domestic market earned gross premium income of Rs 21,867.93 crore.

The total gross direct premium income of 24 general insurance companies grew 9.3 per cent to Rs 17,101.75 crore in August from Rs 15,648.63 crore in the same month a year ago. Besides, the gross direct premium income of the five health insurance companies on a standalone basis grew by 28 per cent to Rs 2,059.38 crore during the month under review. It was Rs 1,609.75 crore in August 2021.

On a cumulative basis, the Gross Direct Premium Income of all 31 companies grew 18.57 per cent to Rs 1,02,357.29 crore in the April-August period of FY 2022-23. It was Rs 86,329.09 crore in the same period of FY 2021-22.

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