look news india
New Delhi: Premiums paid by non-life insurance companies rose 15.47 per cent year-on-year in May 2014. According to the latest data from the General Insurance Council, the total premium paid to these companies was Rs 20,822.29 crore.
The premium of general insurance companies increased by 14.05 percent year-on-year in May to Rs. 18,170.64 crores. The premium of government general insurance companies increased by 7.28 percent to Rs. 6,696.24 crores. In the case of private companies, the premium increased by 18.40 percent to Rs. 11,474.4 crores.
Among the general insurance companies, the premium of New India Assurance Company was slightly lower. The company's premium fell by 0.67 percent year-on-year to Rs 2.55 crore. It has been made Rs 2,404.4 crore.
During this period, the premium of private sector ICICI Lombard General Insurance increased by 21.64 percent year-on-year to Rs. 2.55 crores. 2,104.51 crores and the premium of Bajaj Allianz General Insurance increased by 9.26 percent to Rs. 1,093.23 crores.
Among other major insurance companies, HDFC ERGO General Insurance's premium fell by 4.76 per cent to Rs. 969.98 crore, while in case of United India Insurance Company, it rose by 15.75 per cent to Rs. 1,696.05 crore. Oriental Insurance's premium rose to Rs. 1,601.09 crore, up 15.75 per cent over the same period last year.
In terms of market share, the total share of public sector insurance companies in the insurance market was 33.82 percent in May. Their share was 36.45 percent in May 2023.
