SBI General Insurance registers the highest growth of 218 percent in premium collection among all its peers.
27 general insurers have accumulated a total premium of Rs 56100 crore from April 2012 to January 2013 delivering a robust growth of 19 percent to the non-life insurance industry. The latest IRDA data shows that January 2013 saw a healthy increase of 21 percent in premium collection in as compared to January last year.
SBI General Insurance has registered the highest growth of 218 percent in premium collections by gathering Rs 518 crore. Among private players, ICICI Lombard General Insurance has topped the chart by registering a healthy growth of 19 percent with the premium collection of Rs 5158 crore while Bajaj Allianz stood at second position with the premium collection of Rs 3211 crore resulting in 21 percent growth.
Among the PSU insurers, New India Assurance collected highest premium of Rs 8179 crore (17 percent growth) against Rs 6988 crore in the corresponding period last year followed by United India that reported a premium income of Rs 7637(19 percent hike) crore against Rs 6416 crore in the same period last year.
IRDA data shows that the private non-life insurance
sector has registered a robust growth of 23 percent with a collection of Rs
24,181crore while public sector general insurance sector rose by 17 percent with
a collection of Rs 27,331 crore.