Premium income up 5.52% in H1 for public sector non-life insurers

 The highest growth rate in premium income was achieved by National Insurance at 16.76 per cent in the same period, followed by United India Insurance at a small 3.62 per cent.

 New India, on the other hand, registered a 1.16 per cent growth rate while Oriental achieved a 2.38 per cent growth.

 New India has remained the leader as far as market share was concerned while National Insurance has snatched the second position at 24.57 per cent share from United India. United India and Oriental Insurance has cornered around 24.46 per cent and 22.22 per cent share, respectively.

 Targeted premium income for the four companies in 2003-04 was pegged at Rs 14470.55 crore against Rs 12620.88 crore in the previous year.

 According to estimated premium collection figures, National Insurance would clock the highest rate of growth at 29.21 per cent at Rs 3,700 crore followed by United India Assurance at 19.09 per cent translating into an absolute number of Rs 3,534 crore.

 New India Assurance on the other hand was expected to register a 4.3 per cent growth at 4,089.75 crore while Oriental Insurance was expecting a growth rate of 9.69 per cent. It targeted a total premium income of Rs 3146 crore in 2003-04.