Non-life insurers posted a nearly 13 per cent year-on-year (Y-o-Y) growth in gross direct premium underwritten in February 2024. But there was a sequential dip in their revenue.
According to the monthly data released by the General Insurance Council (GIC), the gross direct premium underwritten (GDPW) of the non-life insurers in February was ₹22,387.39 crore, up 12.6 per cent from ₹19,873.62 crore in the year ago month. But in January, it was over ₹27,200 crore. The premium of general insurers grew by 11.6 per cent Y-o-Y to ₹18,284.16 crore in February this year.
The public sector general insurers clocked 10.3 per growth in premium to ₹6,417.44 crore, whereas, the private sector counterparts witnessed 12.33 per cent increase to ₹11,866.72 crore.
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