With 10-30 per cent hike in the premia for certain categories of corporate cover, the general insurance industry renewed over Rs 1 trillion worth of policies on April 1. April 1 is the time for most renewals for large customers and mega policies. The industry closed 2016-17 at Rs 1.23 trillion, up from around Rs 96,000 crore in 2015-16. "Fire and group health insurance premia have gone up by an average of 10-30 per cent. Motor third-party premium has gone up as per Irdai advices," G Srinivasan, chairman and managing director of New India Assurance told(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna April 05, 2017 11:37 UTC