Reliance General Insurance leads the growth chart in current fiscal
The general insurance industry grew by 12 per cent in the first nine months of current fiscal led by Anil Ambani group firm Reliance General Insurance, which recorded the highest growth of 149 per cent in gross premium as compared to last fiscal.
By Agencies |
NEW DELHI: The general insurance industry grew by 12 per cent in the first nine months of current fiscal led by Anil Ambani group firm Reliance General Insurance, which recorded the highest growth of 149 per cent in gross premium as compared to last fiscal.
The 13 non-life insurers collected Rs 20,796 crore first premium in the first three quarters. Of the total premium, the share of nine private sector players stood at Rs 8,305 crore while remaining was contributed by four public sector players.
In percentage terms, while the public sector could increase their premiums by just 4 per cent, eight private sector players clocked premium growth of 27 per cent during the period.
Reliance General Insurance in the private sector, during the period, collected Rs 1,524 crore registering a growth of 149 per cent, the highest among the private sector players, while Iffco-Tokio witnessed negative growth of 10 per cent at Rs 800 crore.
Kishore Biyani-promoted Future Generali, which started its operation recently, contributed Rs 1 crore to the kitty.
During the period under review, market leader New India Assurance with 19 per cent market share premium collection witnessed an increase of 5 per cent to Rs 3,911 crore. It was closely followed by Kolkata-based National Insurance with premium collection of Rs 2,922 crore.
In the private sector, ICICI Lombard with the largest market share of 13 per cent collected a premium of Rs 2,622 crore while the second largest player Bajaj Alliance collected Rs 1,713 crore during the period.
The 13 non-life insurers collected Rs 20,796 crore first premium in the first three quarters. Of the total premium, the share of nine private sector players stood at Rs 8,305 crore while remaining was contributed by four public sector players.
In percentage terms, while the public sector could increase their premiums by just 4 per cent, eight private sector players clocked premium growth of 27 per cent during the period.
Reliance General Insurance in the private sector, during the period, collected Rs 1,524 crore registering a growth of 149 per cent, the highest among the private sector players, while Iffco-Tokio witnessed negative growth of 10 per cent at Rs 800 crore.
Kishore Biyani-promoted Future Generali, which started its operation recently, contributed Rs 1 crore to the kitty.
During the period under review, market leader New India Assurance with 19 per cent market share premium collection witnessed an increase of 5 per cent to Rs 3,911 crore. It was closely followed by Kolkata-based National Insurance with premium collection of Rs 2,922 crore.
In the private sector, ICICI Lombard with the largest market share of 13 per cent collected a premium of Rs 2,622 crore while the second largest player Bajaj Alliance collected Rs 1,713 crore during the period.
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