General insurance companies see brisk rise in investments: Irdai data
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Backed by a healthy growth in sectors like motor and health insurance, investments of non-life insurance companies rose by around 128 per cent in the last five years. A majority of the investments got channelized into government securities. According to dataGeneral insurance companies see brisk rise in investments: Irdai data
Backed by a healthy growth in sectors like motor and health insurance, investments of non-life insurance companies rose by around 128 per cent in the last five years. A majority of the investments got channelized into government securities. According to data from Insurance Regulatory and Development Authority of India (IRDAI), total investments of non-life insurance companies as on 31st March 2016 stood at around Rs 188126 crore, against Rs 82520 crore as on 31st March 2011, a growth of around 128 per cent. Further, in 2017, the premium collected on account of crop insurance scheme is likely to significantly add to the investable pool of non-life insurers. Informal estimates suggest, total premium collected from the first year of operation of Prime Minister Fasal Bima Yojna (PMFBY), launched in February 2016, is expected to be around Rs 22000 crore. According to Sanjay Datta, chief underwriting & claims, ICICI Lombard General Insurance, much of the growth of growth of non-life ... Read more