Accretion
ICICI Lombard topped the accretion chart in the first quarter of 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. 8057.29 cr out of which the Private sector grabbed the major chunk of Rs.6406 Cr.i.e 80% whereas the public acquired only Rs.1651cr i.e. mere 20% of the total 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 3rd spot, this quarter.
| GROSS DIRECT PREMIUM INCOME / Accretion UNDERWRITTEN BY NON-LIFE INSURERS WITHIN INDIA : FOR THE PERIOD UPTO June 2023 (PROVISIONAL & UNAUDITED ) IN FY 2023-24 (Rs. In Crs.) | |
| Name | Accretion |
| General Insurers | Accretion |
| ICICI Lombard General Insurance Co Ltd | 1016.38 |
| Tata AIG General Insurance Co Ltd | 952.63 |
| The New India Assurance Co Ltd | 827.37 |
| Bajaj Allianz General Insurance Co Ltd | 689.19 |
| The Oriental Insurance Co Ltd | 539.99 |
| IFFCO-Tokio General Insurance Co Ltd | 497.8 |
| Go Digit General Insurance Ltd | 459.41 |
| National Insurance Co Ltd | 427.77 |
| Cholamandalam MS General Insurance Co Ltd | 390.8 |
| Reliance General Insurance Co Ltd | 371.74 |
| HDFC Ergo General Insurance Co Ltd | 348.94 |
| Future Generali India Insurance Co Ltd | 299.94 |
| United India Insurance Co Ltd | 283.86 |
| SBI General Insurance Co Ltd | 218.39 |
| Universal Sompo General Insurance Co Ltd | 179.57 |
| Shriram General Insurance Co Ltd | 158.09 |
| Liberty General Insurance Co. Ltd | 103.17 |
| Acko General Insurance Ltd | 101.63 |
| Kotak Mahindra General Insurance Co Ltd | 99.51 |
| Royal Sundaram General Insurance Co Ltd | 80.18 |
| Magma HDI General Insurance Co Ltd | 59.05 |
| Zuno General Insurance Co Ltd | 33.88 |
| Navi General Insurance Co. Ltd | -6.18 |
| Raheja QBE General Insurance Co Ltd | -75.82 |
The wonder kid ” Go Digit GI” is at no. 7 with accretion of Rs. 427.77 cr.
JD Batta-SLA
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