Non-Life Insurance Premium Rose This May

Insurance Regulatory Development Authority’s statistics display that the non-life insurance premium has increased by 8.1 per cent year-on-year to Rs.  6,118.11 crore in May 2014. Talking about the share, non-life insurers collected 55.3 % of the total premium collected of Rs. 3,381.86 crore while the rest of the 44.7% came from private companies. During the initial 2 months of 2014-15, non-life insurance firms collected 7.28% more premium to Rs 14,539.55 crore.

Read more
Get ₹1 Cr. Life Cover at just
Term Insurance plans
Online discount
upto 10%#
Guaranteed
Claim Support
Policybazaar is
Certified platinum Partner for
Insurer
Claim Settled
98.7%
99.4%
98.5%
99%
98.2%
98.6%
98.82%
96.9%
98.08%
99.2%

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

Get ₹1 Cr. Life Cover at just
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
We are rated
rating
58.9 million
Registered Consumers
51
Insurance
Partners
26.4 million
Policies
Sold

And, premium collected by public sector insurers rose by 8.2% to Rs 7,984.37 crore during April-May and for private companies the premium collected increased by 6.19% to Rs 6,555.17 crore.

Out of the six public sector non-life insurance companies, premium collected by New India Life Insurance in May was Rs 86.06 crore (up 13.8%), United India collected Rs 870.50 (up 3.6%), National Insurance Company collected Rs 867.79 crore (up 15.1%) and Oriental Insurance Rs 615.52 crore (up 12%)

Contribution of Export Credit Guarantee Corporation was Rs 102.41 crore (down 1.3%) and A/C collected Rs 39.58 crore (down 19.9%).

Glancing at the premium collected by private players – Reliance General increased by 10.9% from a year ago to Rs 220.37 crore, Bajaj Allianz collected Rs. 356.97 crore (up 1.6%), ICICI Lombard Rs 516.46 crore(up by 12.3%) and IFFCO-Tokio collected Rs 234.78 crore (up by 5.7%). HDFC ERGO General collected Rs 201.65 which is up by 12%, Bharti AXA General Rs 121.85 crore and SBI General Rs. 102.21 crore i.e. up by 20.3%.

Different types of Plans


Life insurance articles

Recent Articles
Popular Articles
Kotak Life Insurance Policy Details

04 Jan 2023

Kotak Life Insurance, is one of the leading insurers in India
Read more
Tata AIA Life Insurance Login Customer Portal

04 Jan 2023

Tata AIA is one of the life insurance providers that offer
Read more
Edelweiss Tokio Life Insurance Login

20 Dec 2022

Edelweiss Tokio Life Insurance is an Indian insurer that offers
Read more
Characteristics of Life Insurance Plans

12 Dec 2022

Life insurance plans are essential for anyone looking to secure
Read more
ICICI Prudential Life Insurance Customer Service

08 Dec 2022

ICICI Prudential Life Insurance company limited offers a robust
Read more
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However
Read more
SBI Life Insurance 50,000 per year Plan for 5 Years
Life insurance is not only about the financial protection of the family but also about working for life’s
Read more
How to Cancel SBI Life Insurance Policy?
As per the Insurance Regulatory and Development Authority, you can cancel a life insurance policy taken within 15
Read more
How to Download PLI Statement Online?
PLI or Postal Life Insurance was an initiative originally started for the welfare of the Postal Department of
Read more
PLI Surrender Value Calculator
PLI Surrender Value Calculators have proven to be one of the simple tools for digitally savvy customers. PLI
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL