News and Updatesnon-life premium 2019-20
2019-20 premium motor OD

Motor OD premium

The motor OD premium figures for the year 2019-20 are available now & pvt. sector has grown by 6.46 % whereas public sector has declined at the rate of -12.70%. The effect of the slowdown in auto industry is clearly visible in the final figures of the year. Along with the insurers, the motor Insurance surveyors are also worried due to the steep fall during the year. Hereunder is the comparison table showing figures for the 2018-19 & 2019-20 as well as the growth rate of all the non-life insurers for the year 2019-20.

 

2018-19 & 2019-20 premium comparison for & up to the month of march 2020.

No. Insurer For/ Up to the month Motor (Total) Motor Own Damage Motor Third Party
1 Acko For the month 16.65 5.57 11.09
17.33 5.75 11.59
-3.93% -3.14% -4.32%
Up to the month 218.84 67.30 151.54
75.32 27.46 47.86
190.54% 145.06% 216.64%
2 Bajaj For the month 396.88 151.34 245.54
533.10 206.87 326.24
-25.55% -26.84% -24.74% 
Up to the month 5230.52 2099.38 3131.14
4857.03 2102.83 2754.20
7.69% -0.16% 13.69%
3 Bharti For the month 105.41 63.52 41.88
125.20 70.51 54.70
-15.81% -9.90% -23.43%
Up to the month 1487.43 869.96 617.46
1143.00 678.29 464.71
30.13% 28.26% 32.87%
4 Chola For the month 269.88 84.97 184.91
358.22 115.55 242.67
-24.66% -26.47% -23.80%
Up to the month 3244.61 1088.57 2156.04
3001.05 1034.97 1966.08
8.12% 5.18% 9.66%
5 DHFL For the month 2.39 0.86 1.53
10.60 2.05 8.55
-77.41% -57.93% -82.08%
Up to the month 88.03 15.65 72.38
21.11 4.10 17.01
317.01% 281.87% 325.47%
6 Edelweiss For the month 8.09 5.61 2.48
4.16 0.02 4.14
94.52% ####### -40.01%
Up to the month 76.44 51.55 24.90
26.90 0.16 26.74
184.20% ####### -6.89%
7 Future For the month 109.60 45.01 64.59
116.59 45.98 70.61
-6.00% -2.11% -8.52%
Up to the month 1355.03 556.23 798.80
1143.47 495.47 648.00
18.50% 12.26% 23.27%
8 GoDigit For the month 200.76 42.38 158.38
165.70 35.17 130.53
21.16% 20.49% 21.34%
Up to the month 1907.98 487.61 1420.36
854.53 234.25 620.29
123.28% 108.16% 128.99%
9 HDFCErgo For the month 365.22 119.42 245.80
328.02 164.42 163.60
11.34% -27.37% 50.24%
Up to the month 3388.07 1570.23 1817.85
3059.99 1635.12 1424.87
10.72% -3.97% 27.58%
10 ICICI For the month 543.46 287.29 256.16
651.49 326.33 325.15
-16.58% -11.96% -21.22%
Up to the month 6787.63 3688.78 3098.85
6423.53 3407.77 3015.76
5.67% 8.25% 2.76%
11 Iffco For the month 319.76 144.45 175.31
353.71 161.25 192.47
-9.60% -10.42% -8.91%
Up to the month 3526.71 1644.34 1882.36
3261.25 1594.93 1666.32
8.14% 3.10% 12.96%
12 Kotak For the month 23.62 11.92 11.70
19.24 10.12 9.12
22.77% 17.75% 28.34%
Up to the month 249.79 133.46 116.32
197.60 103.61 93.99
26.41% 28.82% 23.76%
13 Liberty For the month 76.00 41.80 34.19
69.47 39.60 29.87
9.40% 5.56% 14.50%
Up to the month 1046.89 596.74 450.15
754.70 440.37 314.33
38.72% 35.51% 43.21%
14 Magma For the month 76.35 20.82 55.53
89.89 26.98 62.91
-15.07% -22.84% -11.74%
Up to the month 1029.13 290.12 739.00
746.55 219.92 526.62
37.85% 31.92% 40.33%
15 Raheja For the month 22.41 3.81 18.60
14.95 0.04 14.91
49.94% ####### 24.74%
Up to the month 103.75 8.11 95.64
76.96 0.28 76.68
34.81% ####### 24.73%
16 Reliance For the month 130.39 66.31 64.09
167.54 86.02 81.52
-22.17% -22.91% -21.39%
Up to the month 3109.23 1209.47 1899.76
2856.74 1314.35 1542.40
8.84% -7.98% 23.17%
17 Royal For the month 180.58 93.14 87.44
195.70 112.63 83.07
-7.72% -17.30% 5.26%
Up to the month 2081.71 1166.14 915.57
2075.87 1230.18 845.70
0.28% -5.21% 8.26%
18 SBI For the month 144.80 51.26 93.54
94.45 59.38 35.07
53.31% -13.68% 166.72%
Up to the month 1568.53 753.05 815.49
916.10 599.74 316.36
71.22% 25.56% 157.77%
19 Shriram For the month 240.90 52.67 188.23
274.73 69.64 205.09
-12.32% -24.38% -8.22%
Up to the month 2381.56 546.73 1834.83
2252.45 574.64 1677.81
5.73% -4.86% 9.36%
20 TataAIG For the month 355.08 162.77 192.31
383.67 176.06 207.61
-7.45% -7.55% -7.37%
Up to the month 4037.15 1808.89 2228.26
3791.33 1873.04 1918.29
6.48% -3.43% 16.16%
21 Universal For the month 98.66 38.88 59.77
58.77 28.10 30.67
67.87% 38.36% 94.92%
Up to the month 881.59 395.22 486.37
699.36 319.90 379.46
26.06% 23.55% 28.17%
Private General Insurer Total For the month 3686.88 1493.81 2193.07
4032.52 1742.46 2290.06
-8.57% -14.27% -4.24%
Up to the month 43800.61 19047.53 24753.08
38234.85 17891.39 20343.46
14.56% 6.46% 21.68%
Private  Insurer Total For the month 3686.88 1493.81 2193.07
4032.52 1742.46 2290.06
-8.57% -14.27% -4.24%
Up to the month 43800.61 19047.53 24753.08
38234.85 17891.39 20343.46
14.56% 6.46% 21.68%
29 National For the month 448.20 139.51 308.69
100.78 -52.59 153.37
344.73% -365.30% 101.28%
Up to the month 5737.29 1893.53 3843.76
6164.28 2284.58 3879.70
-6.93% -17.12% -0.93%
30 NewIndia For the month 762.04 214.20 547.84
907.98 265.88 642.10
-16.07% -19.44% -14.68%
Up to the month 8923.86 2788.43 6135.43
8846.68 3015.80 5830.88
0.87% -7.54% 5.22%
31 Oriental For the month 333.51 85.04 248.47
459.52 136.23 323.29
-27.42% -37.57% -23.14%
Up to the month 4203.31 1201.86 3001.45
4535.18 1477.49 3057.69
-7.32% -18.66% -1.84%
32 United For the month 496.23 119.46 376.77
706.75 177.42 529.33
-29.79% -32.67% -28.82%
Up to the month 6543.08 1621.19 4921.89
6742.23 1818.58 4923.65
-2.95% -10.85% -0.04%
PSU General Insurer  Total For the month 2039.98 558.22 1481.77
2175.03 526.94 1648.09
-6.21% 5.93% -10.09%
Up to the month 25407.54 7505.01 17902.53
26288.37 8596.45 17691.92
-3.35% -12.70% 1.19%

 

Summery of Motor OD premium for the year 2019-20

 

Private sector Motor premium & growth %

2018-19

2019-20

Growth %

43800.61 19047.53 24753.08
38234.85 17891.39 20343.46
14.56% 6.46% 21.68%

 

Public sector Motor premium & growth %

2018-19

2019-20

Growth %

25407.54 7505.01 17902.53
26288.37 8596.45 17691.92
-3.35% -12.70% 1.19%

 

Total industry Motor premium & growth %

2018-19

2019-20

Growth %

69208.15 26552.53 42655.62
64523.22 26487.84 38035.38
7.26% 0.24% 12.15%

 

Slow down in economy as well as in automobile sector has affected the whole of the insurance sector. Even in private sector, the slow down affect is clearly visible & most of the co’s have come up with disappointing figures. Only SBI & go digit are the star performers adding around 8/9 hindered Cr of the motor premium. In public sector, the oriental insurance has biggest decline of over 18%  & new India has come up with some what manageable figure of minus 7% in motor OD premium.

Complied by:

J.D.Batta-Surveyor & Loss assessor

Admin: Claim Hub, Chandigarh

 

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