Allianz moves to 3rd spot, LIC and ICICI Pru stay put

June quarter premium market share

LIC3,322.35 ICICI Prudential334.13 Allianz Bajaj185.52 HDFC142.02 Tata AIG85.52 Birla Sun Life81.67 SBI Life75.11 Max NY Life63.99 Aviva50.53 Kotak Mahindra33.95 ING23.59 AMP20.81 Metlife17.13 Sahara1.08  The latest figures were leased by the Insurance Regulatory and Development Authority this week. There are 14 life insurers in India, including the state run Life Insurance Corporation (LIC).  LIC and private sector ICICI Prudential have retained their first and second slots in terms of premium market share accounting for 74.87 per cent and 7.53 per cent, respectively.  LIC has received a premium income of Rs 3,322.35 crore in April-June this year against Rs 3,014.72 crore last year. For ICICI Prudential, the amount is Rs 334.13 crore against Rs 221.81 crore.  Tata AIG and Birla Sun Life continue to be on the fifth and sixth positions with a market share of 1.93 per cent and 1.84 per cent, respectively.  These two players have acquired a premium of Rs 85.52 crore and and Rs 81.67 crore in the first quarter against Rs 49.95 crore and Rs 93.62 crore, respectively. Birla Sun Life Insurance is the only company to see a fall in its premium income.  Down the ladder, SBI Life has replaced Max New York by moving up to the seventh position with a market share of 1.69 per cent. Its premium income grew by Rs 75.11 crore ( Rs 51.03 crore). Max New York is relegated to the eighth position holding 1.44 per cent market share earning a premium income of Rs 63.99 crore against Rs 30.33 crore.  There has been no change in the positioning of Aviva (ninth position) with a market share of 1.14 per cent. Its premium income grew by Rs 50.53 crore against Rs 32.59 crore.  Kotak Mahindra Old Mutual has moved up to the 10th postion from its earlier slot of 11th. Similarly, ING Vysya has moved up to the 11th position from 13th. Kotak Mahindra accounts for 0.77 per cent of the market and ING Vysya 0.53 per cent.  Kotak Mahindra Old Mutual has acquired a premium income of Rs 33.95 crore in the first quarter against Rs 17.33 crore and ING Vysya Rs 23.59 crore against Rs 11.59 crore. AMP Sanmar has moved down from 10th to 11th position while Met Life is on the same slot of 12 th.  AMP Sanmar has a market share of 0.47 per cent and Met Life 0.39 per cent. Their premium incomes have been Rs 20.81 crore (Rs 9.33 crore) and Rs 17.13 crore (Rs 8.04 crore), respectively. Sahara Life continues to the laggard at the 14th position.