General insurance companies started the current financial year on a positive note with gross direct premium in April growing by around 12% year-on-year (Y-o-Y).
Data from the General Insurance Council shows that private players have continued to register higher growth compared to their public sector peers.
In April, the gross premium income of the general insurance industry stood at Rs 10,525.35 crore, against Rs 9,404.36 crore in April last year. While gross premium income of private insurers in April was at Rs 4,606.40 crore, up 13.1% compared to the year-ago period, public sector insurance companies witnessed growth of 11% at Rs 5,484.45 crore.
