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Non-life insurers' premium up 19% in April-May

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 12:57 AM IST

General insurers grew around 19 per cent by collecting Rs 7,392 crore premium in the first two months of the current fiscal, as compared to the corresponding period last year.

During April-May this year, non-life insurers mopped up Rs 7,392.19 crore against Rs 6,218.42 crore in the previous year, according to data from the Insurance Regulatory and Development Authority.

The four state-run insurers fared better than their private counterparts, with New India Assurance collecting the maximum premium, it added.

New India Insurance mopped up Rs 1,365.83 crore premium during the April-May period, compared to Rs 1,174 crore in the previous year -- growing by 16.34 per cent.

United India Insurance registered a growth of 22.47 per cent by collecting a premium of Rs 1,094.72 crore in the first two months of the current fiscal, as compared to Rs 893.87 crore during the corresponding period in the previous year.
    
National Insurance collected Rs 979.91 crore premium during the April-May period this year compared to Rs 773.46 crore in the previous year, registering a growth of 26.69 per cent.
    
Oriental Insurance, on the other hand, grew by 14.16 per cent during the first two months of the current fiscal by mopping up Rs 954.89 crore.
    
Among private non-life insurers, ICICI Lombard retained the top position. It mopped up Rs 728.91 crore premium during April-May this year as compared to Rs 631.37 crore in the corresponding period of the last fiscal, growing by 15.45 per cent.
    
Bajaj Allianz mopped up Rs 490.46 crore in the first two months this year, against Rs 424.60 crore last year -- registering a growth of 15.51 per cent.
    
However, Reliance General registered a negative growth of 28.22 per cent. The insurer managed to collect Rs 276.80 crore during April-May this year, compared to Rs 385.62 crore in the corresponding period last year.
    
There are over 20 non-life insurance companies operating in the country.

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First Published: Jun 27 2010 | 2:17 PM IST

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