Private life insurers post 55% growth
Growing demand for health insurance, evident since the pandemic began last year, played a role in non-life insurers posting more than 22% year-on-year rise in gross direct premium underwritten to ₹17,310 crore in April.
Among them, standalone private health insurers posted a 55.6% increase to ₹1,259.2 crore, according to flash figures released by insurance regulator IRDAI.
General insurers, for whom too health insurance is the mainstay, reported a 19.6% rise to ₹15,946.5 crore. With the inclusion of the two specialised PSU insurers, the non-life insurers gross premium underwritten rose 22%.
On the life insurance front, the first year premium mobilised by the private insurers increased 55.2% to₹4,882 crore. Their market share stood at 50%, the business statement for April released by IRDAI said.
State-owned Life Insurance Corporation (LIC) said on Tuesday it earned its highest new business premium income, of Rs 1.84 trillion, in FY21. It paid claims worth Rs 1.34 trillion to policyholders. LIC, in a late-night statement, said it procured 2.1 crore policies in FY21, out of which 46.72 lakh were in March. The procurement marked a growth of 298.82 per cent over last year for the corresponding month. In the individual assurance business, LIC has seen the highest ever first-year premium income of Rs 56,406 crore in FY21, up 10.11 per cent compared to last year. The company’s pension and group schemes saw a record new business premium income of Rs 1.27 trillion. The number of new schemes also touched a record high of 31,795.
JD(S) wants Centre to declare Krishna River Basin Project as national project
Updated:
Updated:
Share Article
AAA
The national general secretary of the Janata Dal (Secular) and former MLA, N.H. Konaraddi, has said that the party will soon launch a movement seeking declaration of the Krishna River Basin Project in northern Karnataka as a national project.
Addressing presspersons in Hubballi on Wednesday, Mr. Konaraddi said that the Union government should consider significance of the Krishna projects for north Karnataka and declare it a national project and allocate funds accordingly.
He said that to begin with a village stay and tractor rally would be organised. “We will begin with tractor rallies to villages in Navalgund and Annigeri taluks of Dharwad district, which will be followed by a village-stay programme. Subsequently the movement will be extended to other districts in the region,” he said.