Non-life insurers have reported an 11.35 per cent rise in gross direct premium income in May, over the same period last year, which was marred by a nationwide lockdown to curb the spread of the coronavirus. Insurers collected premiums of Rs 12,316.5 crore this May, compared to Rs 11,061.02 crore in May 2020. But, sequentially (month-on-month) the premium collected by non-life insurers in May dropped 28.84 per cent compared to April, indicating a disruption their business due to localised lockdowns imposed by authorities due to the second wave of the pandemic. In April, the insurers had amassed premiums of Rs 17,309.54 crore.
