IRDAI Circular – The Growth of Insurance Business: June 2018 vs June 2017

insurance sector growth

June proved yet another fruitful month for the insurance industry with both life insurance companies as well as general insurance companies posting positive growth. The premium collected by insurance companies in June 2018 showed an upward trend when compared to June 2017. Among general insurance companies, Aditya Birla Health Insurance and Cigna TTK posted the best growth while in case of life insurance companies, IndiaFirst and Edelweiss Tokio Life posted the best growth rate. So, let’s take a look at the five of the best performing general insurance and life insurance companies for the month of June 2018 –

 

General insurance companies

 

Among general insurers, including standalone health insurance companies but excluding specialized public sector insurance companies, the growth trend was quite positive. Aditya Birla Health Insurance posted the highest growth rate @ 100.2% followed by Cigna TTK @ 90.6% and IFFCO Tokio @72.2%. Here are the other two companies which had good growth–

 

general insurance company performance

 

 

Life insurance companies

 

In the life insurance sector, the growth was exceptional as well. While IndiaFirst posted a growth of more than four times, Edelweiss Tokio doubled its premium collection in June 2018 compared to June 2017. Let’s see how the other top performers fared–

 

life insurance company performance

 

 

Besides these top performers, other insurance companies also posted a good growth in premium collection barring a few. Overall, the month of June was productive not only for insurance companies but for their intermediaries too who also earned handsomely. You too have a scope of increasing your earnings by utilizing the growth in the insurance business.

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