India's general insurance industry grew by 19.34 % in the 11 months of fiscal year' 2012-13 led by SBI General which recorded more over 3 times growth in gross premium collection as compared to last fiscal year. For the April-February period of fiscal year' 2012-13, the total premium collection of the 27 general insurance cos was Rs 61,885.11 cr. .
The premium share of 21 private insurers stood at Rs 26,655.35cr and grew by around 22.78 %. While, the state-run insurers - New India Assurance, National Insurance, United India Insurance and Oriental Insurance contributed Rs 31,196.3cr and logged a premium growth of 16.87% during the period.
Among the private sector insurers, SBI General Insurance Company collected the highest premium of Rs 653.17cr registering a growth of 209.71%, ICICI Lombard with the largest market share collected a premium of Rs 5,655.27cr and, the second largest private insurer, Bajaj Alliance collected Rs 3,528.24cr premium during the period. .
HDFC Ergo General Insurance collected Rs 2,201.77cr, followed by Tata AIG with Rs 1,903.29cr. Reliance General collected Rs 1,853.26cr for the period. . While, another private sector insurer, Star Health & Allied Insurance witnessed negative growth of 30.26% at Rs 740.39cr. . Market leader New India Assurance with 7% market share collected premium of Rs 8,956.48cr, an increase of 17.21%. It was closely followed by Chennai-based United India Insurance with premium collection of Rs 8,311.44cr.
The premium share of 21 private insurers stood at Rs 26,655.35cr and grew by around 22.78 %. While, the state-run insurers - New India Assurance, National Insurance, United India Insurance and Oriental Insurance contributed Rs 31,196.3cr and logged a premium growth of 16.87% during the period.
Among the private sector insurers, SBI General Insurance Company collected the highest premium of Rs 653.17cr registering a growth of 209.71%, ICICI Lombard with the largest market share collected a premium of Rs 5,655.27cr and, the second largest private insurer, Bajaj Alliance collected Rs 3,528.24cr premium during the period. .
HDFC Ergo General Insurance collected Rs 2,201.77cr, followed by Tata AIG with Rs 1,903.29cr. Reliance General collected Rs 1,853.26cr for the period. . While, another private sector insurer, Star Health & Allied Insurance witnessed negative growth of 30.26% at Rs 740.39cr. . Market leader New India Assurance with 7% market share collected premium of Rs 8,956.48cr, an increase of 17.21%. It was closely followed by Chennai-based United India Insurance with premium collection of Rs 8,311.44cr.
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