SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • Insurance 20 percent jump in general insurance premium collections in April

    20 percent jump in general insurance premium collections in April

    The non-life insurance segment proves to be a better performer than life insurance
    Pallabika Jun 1, 2011

    The non-life insurance segment proves to be a better performer than life insurance

    The non-insurance sector comprising 19 players, witnessed an increase of 20 percent to Rs 5,252.24 crore in the first month of the current fiscal from Rs 4,381.49 crore in April 2010, according to the IRDA data released on Tuesday.

    The life insurance sector saw a dip in their business by 12 percent with the total income earned out of new business amounting to Rs 5,063.37 crore during April 2011. In April, private sector insurance companies reported a decline of 14.5 percent. At the same time, LIC also reported a drop of 10.89 percent to Rs 3,718.77 crore. 

    Pension products contributed around 30 percent to the industry's income. However, after the regulator applied a mandatory return on the product, its sales have come to a standstill.

    Among the private sector players in the non-life segment, ICICI Lombard tops the list with Rs.586.80 crore and is followed by Bajaj Allianz Rs.280.97 crore. Among the PSU entities, New India Assurance leads the industry earning with Rs.1,002 crore followed by United India with Rs.719.19 crore, National Insurance at Rs.654 crore and Oriental Insurance at Rs.580.76 crore. 

    website infidelity click here
    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.