Non-life insurance companies report 22.93 per cent H1 growth

Thanks to robust auto sales and retail health insurance, non-life insurance companies have seen 22.93 per cent growth in gross premium income in the financial year's first half.

According to Insurance Regulatory and Development Authority (Irda) data, insurers grossed Rs 20,679 crore in collections during April-September as against Rs16,822 crore in the corresponding period last year.

State-owned insurers have been outperformed by private sector players.

As against the public sector players,  New India Assurance, United India, National India and Oriental Insurance who posted 21.53 per cent growth, private sector players report a growth of 25 per cent.

According to insurance company executives the recovery in auto sales and retail health segment had driven the growth and during the first half health insurance had registered a growth of 40 per  cent.

Insurance company executives said the recovery in auto sales and retail health segment had driven the growth. During the first half, health has grown 40 per cent.