The domestic general insurance sector continued its monthly growth and registered a surge of 16.9% in gross direct premium income underwritten in January. However, data from the General Insurance Council also shows that private sector insurers saw higher growth in gross direct premium, compared to the public sector players.
For the overall general insurance industry, gross direct premium income underwritten in January was R8,840.89 crore, against R7,560.51 crore in January last year. In the current financial year, gross direct premium income underwritten for the general insurance industry stood at R78,718 crore, up by 13.8% compared with R69,196 crore in the previous financial year.
The data from the General Insurance Council also indicates that public sector’s gross direct premium income underwritten in January grew 11.6%. The premium for public sector insurers stood at R4,162.46 crore in January 2015 crore.
