New Delhi, Aug. 14 -- Non-life insurance premium, including health, fire and crop, rose 9.5% year-on-year to Rs.1.19 trillion in the first four months of the ongoing financial year (FY27), as intense competition and discounting pushed down rates in commercial insurance.

Crop insurance premium slumped by more than two-thirds during April-July to Rs.1,183 crore from Rs.3,544 crore a year earlier, while fire premium fell 28.5% to Rs.10,062 crore from Rs.14,063 crore. Health and motor insurance, however, grew at double-digit rates, supporting the overall premium collection, according to segment-wise data from the General Insurance Council, a body representing non-life insurance companies in India.

Non-life premium collection had grown 7.22%...