National Insurance emerges No 1

National Insurance pipped New India Assurance to emerge India's largest general insurer in January with a premium income of Rs 313.18 crore. Oriental Insurance beat United India Insurance to occupy the third slot.

In January this year, general insurance premium grew 9.5 per cent, pulling down the cumulative growth during April-January 2003-04 to 12.32 per cent.

According to the latest data released by the Insurance Regulatory and Development Authority, the gross premium underwritten by 13 general insurers during January 2004 was estimated at Rs 1,353.7 crore.

During April-January, the gross premium underwritten was estimated at Rs 13,245.75 crore, on account of a 71 per cent growth in income of eight private players. The income of public sector insurance companies climbed just 6.34 per cent.

The premium underwritten by public sector general insurers fell because they stayed away from loss-making portfolios like motor insurance. "We are focusing on improving the company's bottom line," said New India CMD Rajendra Beri.