Bajaj Allianz give stellar performance

Bajaj Allianz topped the accretion chart in the financial year 2023-24. Accretion is the amount of premium over & above the previous figure for the. corresponding period. Total accretion of the non-life insurer was to the tune of Rs. 30599.60 cr out of which the Private sector grabbed the major chunk of Rs.23149.00 Cr.i.e 76%  whereas the public acquired only Rs.7450 cr i.e. mere 24% of the total new premium. Although The public sector giant “New India Assurance” is a leader with wide gap in terms of total premium  but accretion wise it has been pushed to 4th spot, this year.

The new India assurance  remains far ahead of the the other public as well as the Pvt sector insurers in terms of the premium income for the fy 2023-24 & seems uncatchable in near future. The other top performers are ICICI Lombard & Bajaj Allianz with direct premium income of Rs. 24776 & 20472 cr. Respectvively.

In midsize Co’s “ Go Digit” & “SBI General” are the other two insurers with “over all” performance parameters like Accretion & Growth percentage. IFFCO Tokio & National Insurance are surprise bad performers this year.