Non-life insurance companies posted an 11% rise in gross direct premium on a collective basis to Rs 2,20,634.73 crore in FY22, IRDAI data showed on Monday.

All the 31 non-life insurance players had underwritten a gross direct premium of Rs 1,98,714.72 crore in 2020-21.

In a break-up of data by the Insurance Regulatory and Development Authority of India (IRDAI), 24 general insurance companies registered an 8.79% increase in their combined gross direct premium during 2021-22 at Rs 1,84,775.17 crore against Rs 1,69,844.68 crore in the previous fiscal.

Five standalone private sector health insurance companies witnessed a 32.53% jump in their gross direct premium income in FY22 to Rs 20,880.08 crore against Rs 15,755.18 crore a year ago, according to the IRDAI data.

The two specialised PSU insurers - Agricultural Insurance Company of India Ltd and ECGC Ltd - posted a 14.22% rise in their collective gross premium to Rs 14,979.47 crore compared to Rs 13,114.85 crore in FY21.