- 3500+ Cashless Garages across India
- 50 Lakh+ Happy Customers
- 24X7 Roadside Assistance
- 100% Insurance Coverage on Service Invoice Price
We promise limited calls
19% Growth In Premium Income Of Indian General Insurance Industry
- DetailsWritten by PolicyBazaar -
- Hits : 3200 -
Modified 25 August 2016
Indian General Insurance Industry has registered a growth of 19% unlike other 23 private companies which have gathered 12.62% premium collection growth. Hyderabad, 10th March 2014: Where 23 private companies have possessed 12.62% growth in premium collection i.e. up to Rs 3,274.48 crore, the Indian general insurance industry has registered a growth of 19% during the month of January to Rs 7,380.72 crore. There are 27 general insurance companies among which 23 are private and four are state-run.
According to IRDA (Insurance Regulatory and Development Authority), there is a gross premium collection growth of 24.59% year-on-year to Rs 4,106.23 crore by the four public insurers namely- National Insurance Company, Oriental Insurance, New India Assurance and United India Insurance in January.
Among the private sector companies, premium income growth of ICICI Lombard is raised by 6.6% to Rs 703.22 crore and of Reliance General up 14.1 % to Rs 184.97 crore. Apollo Munich has acquired a growth of 52.98% to Rs 166.77 crore in January. SBI General up by 38.85% to Rs 111.72 crore, Tata-AIG by 5.7% to Rs 203.46 crore and HDFC Ergo General has registered a growth of 9.5% to Rs 231.21 crore.
For the first ten months of the current financial year 2013-14, the premium collected by public general insurance companies grew by 11.77 per cent from a year earlier to Rs 35,674.79 crore, where as private players’ cumulative premium during April-January of the ongoing fiscal increased 16.17 per cent to Rs 28,091.97 crore.
The data given by the insurance watchdog reveals an increment of 13.66% to Rs 63,766 crore during April-January in the gross premium of the state-run and private players of the non life insurance market.
- Most Read
- What Is Covered Under Third Party Car Insurance Policy?
Date: 28 March 2018
- What is Engine Protection Cover in Auto Insurance?
Date: 19 March 2018
- How a Zero-Dep Car Insurance Policy Benefits You during Claims?
Date: 20 February 2018
- Dos and Don'ts While Filing Car Insurance
Date: 13 February 2018
- Overview of Oriental Car Insurance Policy
Date: 19 January 2018
- Top 5 Motor Insurance Companies in India
Views : 255804
- What Everybody Ought to Know about Zero Depreciation Car Insurance Cover?
Views : 185239
- Insured Declared Value (IDV)
Views : 173957
- 9 Secrets That Your Motor Insurance Provider Won’t Tell You
Views : 131655
- Money Saving Advice for All Car Owners
Views : 126550