General insurers total premium rises 12.23% in FY14: IRDA

India Infoline News Service | Mumbai |

The gross direct premium underwritten by four public sector insurers was at Rs. 43,292.24 crore in FY14 as against Rs. 39,405.70 crore in FY13

The gross direct premium underwritten of all non-life insurance companies in India increased 12.23% to Rs. 77,538.25 crore in the last financial year 2013-14 from Rs. 69,088.69 crore in FY13, according to the data provided by IRDA (Insurance Regulatory and Development Authority).
The gross direct premium underwritten by the private sector was at Rs. 34,246.01 crore in FY14 as against Rs. 29,682.99 crore in FY13, the IRDA added.
The gross direct premium underwritten by four public sector insurers was at Rs. 43,292.24 crore in FY14 as against Rs. 39,405.70 crore in FY13.
The four PSU insurers include National Insurance, New India Assurance, Oriental Insurance and United India Insurance.
Total premium income of non-life insurance companies increased by 10.6% to Rs 7,904.83 crore in March 2014.
The gross premium collection of public sector insurers rose by 7.3% year-on-year to Rs 4,422.32 crore in March 2014.
Total premium collected by 24 private insurers increased 15.1% to Rs. 3,482.50 crore in March 2014.
 

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