New Delhi: Gross premium collection of private sector general insurance company Bhartiaxa General Insurance increased by 38 percent to Rs 3,157 crore in 2019-20. In the same period of last financial year, the company collected a premium of Rs 2,285 crore.
The company said in a statement on Monday that crop, motor vehicles and health insurance contributed to its premium collection. The company has recorded double digit growth in all categories. The company’s crop insurance premium collection increased by 59 percent to Rs 828 crore, vehicle insurance premium collection increased by 30 percent to Rs 1,143 crore, health insurance premium collection increased by 23 percent to Rs 410 crore.
The company’s managing director Sanjeev Srinivasan said the company’s premium collection was better than 2018-19 due to expanding partnerships and distribution networks, forming new business alliances and diversifying products.