Health segment perks up non-life insurers’ FY22 show
The Hindu
Standalone private health insurers saw a 32.5% rise in premium to ₹20,880 crore
Non-life insurers clocked an 11% increase in gross direct premium underwritten to more than ₹2.2 lakh crore for the financial year ended March, a performance that came on the back of continued demand for health cover and a ‘good’ show by standalone health insurers, data from the Insurance Regulatory and Development Authority of India showed.
A year marked for the most part by the pandemic, including the devastating second wave, it had standalone private health insurers, a part of the overall non-life segment, clocking a 32.5% increase in the premium to ₹20,880.08 crore (₹15,755.18 crore).
Gross direct premium underwritten by general insurers during the fiscal was 8.79% higher at ₹1,84,775.17 crore . General insurers totally accounted for almost 84% of the non-life market. Flash figures, of the gross direct premium underwritten by non-life insurers, however, did not specify how much of the growth of general insurers was on account of their health portfolio.
Non-life insurers’ gross direct premium underwritten during FY21 was more than ₹1.98 lakh crore. In March 2022, the gross direct premium underwritten by the non-life insurers was Rs.21,591.50 crore (Rs.19,477.96 crore).
The two specialised PSU insurers - ECGC and Agricultural Insurance Company of India - who also form part of the non-life insurance segment, reported a 14.2% increase in the premium to ₹14,979.47 crore .
The Thane police have arrested two co-founders of cryptocurrency exchange platform CoinDCX in connection with an alleged fraud of Rs 71.6 lakh, officials said
Meta Chief Executive Mark Zuckerberg is building a CEO agent to help him do his job, the Wall Street Journal reported
Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
L&T confirms 95% of its West Asia project sites are safe, while addressing logistics challenges amid ongoing regional conflicts.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
HDFC Bank terminates three senior officials over client onboarding issues at its DIFC branch amid ethical concerns following chairman's resignation.
Air India CEO warns of potential flight cuts and reduced travel demand due to rising fuel costs amid ongoing Gulf conflict.
Options are widely used by retail traders to speculate on the value of the stock for immediate gains and such behaviour in large scale can distort the market
India achieves 1 billion tonne coal production for the second consecutive year, ensuring stable energy supply and economic growth.
Generic drugmakers in India launch affordable Semaglutide versions, targeting a $1 billion diabetes and weight loss market.