While New India Assurance (NIA), National Insurance Company (NIC) and Reliance General saw decline in their business, ICICI Lombard, Bajaj Allianz and Cholamandalam recorded impressive growths in December 2004.The general insurance industry grew by about 15% to Rs 13,570 crore during the first nine months of fiscal 2004-05, according to figures compiled by IRDA.NIA's premium income was down 16% to Rs 338 crore in December 2004 from Rs 402 crore a year ago, while NIC's premium fell 8% to Rs 323 crore from Rs 350 crore in December 2003.Reliance General was the only private firm that saw a fall in business - its pemium declined 15% to Rs 11.59 crore in December.While ICICI Lombard's premium zoomed 85% to Rs 649 crore in the first nine months of the current fiscal, Bajaj Allianz recorded an 80% increase to Rs 609 crore in the period under review.
