According to the Annual Report 2023-24 of the Irdai, during 2023-24, the non-life insurance industry underwrote a total direct premium of ₹2.90 trillion in India registering a growth of 12.76% from the previous year.The contribution of public sector general insurers increased 8.88% from ₹82,891 crore in 2022-23 to ₹90,252 crore in 2023-24.Private sector insurers, including standalone health insurers, have underwritten ₹1.88 trillion as against ₹1.58 trillion in 2022-23.The aggregate profit of the non-life insurance sector was ₹10,119 crore as against a net loss of ₹2,566 crore in 2022-23.During 2023-24, the aggregate net incurred claims rose 15.39% to ₹1.72 trillion. PTI

Non-life insurers' claim ratio falls

38,2100,334,97,2037,3222

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.