What was never expected has happened. The two public sector giants in non-life insurance sector are appearing at the bottom of the ladder In growth rate figures for April-June quarter of Fy 2023-24. United India insurance is appearing at the bottom of the table & New India at 2nd last number. No doubt these companies have cpmpartivly bigger base & mkt. share but these are the only ones having single digit growth, all other insurers have clocked double digit growth.
| GROSS DIRECT PREMIUM INCOME UNDERWRITTEN BY NON-LIFE INSURERS WITHIN INDIA : FOR THE PERIOD UPTO June 2023 (PROVISIONAL & UNAUDITED ) IN FY 2023-24 | ||
| General Insurers | Growth % | |
| Kotak Mahindra General Insurance Co Ltd | 45.75% | |
| Shriram General Insurance Co Ltd | 39.38% | |
| Future Generali India Insurance Co Ltd | 34.63% | |
| Tata AIG General Insurance Co Ltd | 32.68% | |
| Acko General Insurance Ltd | 31.94% | |
| Zuno General Insurance Co Ltd | 30.62% | |
| Cholamandalam MS General Insurance Co Ltd | 30.29% | |
| Go Digit General Insurance Ltd | 30.04% | |
| IFFCO-Tokio General Insurance Co Ltd | 23.38% | |
| Liberty General Insurance Co. Ltd | 22.61% | |
| Bajaj Allianz General Insurance Co Ltd | 22.23% | |
| Universal Sompo General Insurance Co Ltd | 21.68 | |
| ICICI Lombard General Insurance Co Ltd | 18.93% | |
| Reliance General Insurance Co Ltd | 15.02% | |
| The Oriental Insurance Co Ltd | 14.84% | |
| National Insurance Co Ltd | 13.68% | |
| SBI General Insurance Co Ltd | 12.48% | |
| HDFC Ergo General Insurance Co Ltd | 11.35% | |
| Royal Sundaram General Insurance Co Ltd | 10.99% | |
| Magma HDI General Insurance Co Ltd | 10.93% | |
| The New India Assurance Co Ltd | 8.66% | |
| United India Insurance Co Ltd | 6.59% | |
| Industry growth | 16.49% | |
| Public sector growth | 10.00% | |
| Pvt sector growth | 18.00% | |
In big size co’s Bajaj & ICICI have good growth rate whereas in mid size insurers IFFCO & Go Digit have performed beyond the Mkt estimates.
JD Batta-SLA
Admin: Claim Hub