Reliance General Insurance gets into top two
ADA Group's Reliance General Insurance (RGI) has become the second largest non-life private insurer.
By PTI |
NEW DELHI: ADA Group's Reliance General Insurance (RGI) has become the second largest non-life private insurer, toppling Bajaj Allianz, in terms of premium collections of Rs 221 crore in April.
This also catapulted the firm to the number one slot in the industry, including public sector, for the new premium
generation for April, with collections of Rs 151 crore, followed by industry leader ICICI Lombard at Rs 118 crore,
data available with Insurance Regulatory and Development Authority (IRDA) show.
ICICI remained at the top slot with total premium of Rs 448.65 crore in April, recording growth of 35.75 per cent over the corresponding period last year.
RGI recorded a 215 per cent jump at Rs 221.16 crore in premium collections as compared to Rs 70.3 crore on y-o-y basis, outpacing the growth of all non-life private insurers which stood at 37.3 per cent, according to the IRDA data.
It contributed almost 43 per cent to the private non-life insurance sector in new premium segment and increased its share to 17 per cent as against 10 per cent in FY07 and three per cent in FY06.
Bajaj Allianz garnered total premium of Rs 215.3 crore, up 17.90 per cent as against Rs 183.6 crore in April 2006, while Iffko-Tokio recorded negative growth of 11.68 per cent to Rs 107.24 crore from Rs 121.43 crore for the same period a year ago.
This also catapulted the firm to the number one slot in the industry, including public sector, for the new premium
generation for April, with collections of Rs 151 crore, followed by industry leader ICICI Lombard at Rs 118 crore,
data available with Insurance Regulatory and Development Authority (IRDA) show.
ICICI remained at the top slot with total premium of Rs 448.65 crore in April, recording growth of 35.75 per cent over the corresponding period last year.
RGI recorded a 215 per cent jump at Rs 221.16 crore in premium collections as compared to Rs 70.3 crore on y-o-y basis, outpacing the growth of all non-life private insurers which stood at 37.3 per cent, according to the IRDA data.
It contributed almost 43 per cent to the private non-life insurance sector in new premium segment and increased its share to 17 per cent as against 10 per cent in FY07 and three per cent in FY06.
Bajaj Allianz garnered total premium of Rs 215.3 crore, up 17.90 per cent as against Rs 183.6 crore in April 2006, while Iffko-Tokio recorded negative growth of 11.68 per cent to Rs 107.24 crore from Rs 121.43 crore for the same period a year ago.
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