Health boost for non-life insurers in FY21 At over ₹1.98 lakh cr, gross direct premium underwritten 5.20% more
The Hindu
A rising demand for health covers evident since COVID-19 outbreak seems to have come as a booster shot for non-life insurers as they posted a 5.20% increase in gross direct premium underwritten for 20
A rising demand for health covers evident since COVID-19 outbreak seems to have come as a booster shot for non-life insurers as they posted a 5.20% increase in gross direct premium underwritten for 2020-21. Comprising general insurers (all of whom deal in health insurance too); standalone health insurers; and the two specialised PSU insurers (ECGC and Agricultural Insurance Company of India) the non-life segment reported ₹1,98,734.68 crore gross direct premium underwritten. For 2019-20, it totalled ₹1,88,916.61 crore. Flash figures (provisional and unaudited), released on Tuesday by insurance regulator IRDAI, show gross direct premium underwritten of general insurers (25 companies) increasing 3.35% to ₹1,69,840.05 crore (₹1,64,328.20 crore). These companies between them account for over 85% of the non-life market.
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