The general insurance sector continued its monthly growth and registered surge of 17.4% in gross direct premium income underwritten in February.
However, data from the General Insurance Council shows that private sector insurers continued to see higher growth in gross direct premium compared with public sector players.
For the general insurance industry as a whole, gross direct premium income underwritten in February was Rs 7,700.32 crore, against Rs 6,560.74 crore in February last year.
In the current financial year, gross direct premium income underwritten for the general insurance industry stood at Rs 86,418.72 crore, up by 14.1% compared with Rs 75,757.43 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 February grew by 13%.