public vs private

Word public vs private

Market share of public sector non-life insurance companies for the year 2021-22 has gone down drastically. From around 42% in year 20-21, it has come down to 34% only. While New India Assurance & Oriental insurance have shown grown of 14% &10% respectively whereas the united India & National insurance have declined by 5.17% & 7.89%. Overall the public sector grew by 4.55% whereas the growth of Pvt sector insurers Stands at 11.89% at the end of the year 2021-22.

 

 

Hereunder is the  Premium wise & growth wise charts of Private& public sector Non-life insurers:

Premium wise Ranking of Non-life insurers 2021-22

Insurer      21-22     20-21 Mkt.share % Growth
The New India Assurance Company Limited    32,569.49   28,548.48         14.76         14.08
ICICI Lombard General Insurance Company Limited    17,976.86   14,003.09           8.15         28.38
United India Insurance Company Limited    15,720.91   16,704.70           7.13         (5.89)
The Oriental Insurance Company Limited    13,700.73   12,449.71           6.21         10.05
Bajaj Allianz General Insurance Company Limited    13,688.59   12,569.53           6.20           8.90
HDFC Ergo General insurance Company Limited    13,497.55   12,295.10           6.12           9.78
National Insurance Company Limited    13,126.46   14,140.83           5.95         (7.17)
Tata AIG General Insurance Company Limited      9,922.53     8,042.06           4.50         23.38
Reliance General Insurance Company Limited      9,408.96     8,310.28           4.26         13.22
SBI General Insurance Company Limited      9,166.22     8,264.86           4.15         10.91
IFFCO Tokio General Insurance Company Limited      8,452.91     8,410.88           3.83           0.50
Cholamandalam MS General Insurance Company Limited      4,828.00     4,388.21           2.19         10.02
Go Digit General Insurance Limited      4,673.94     2,417.62           2.12         93.33
Future Generali India Insurance Company Limited      4,137.98     3,835.23           1.88           7.89
Universal Sompo General Insurance Company Limited      3,467.81     3,052.16           1.57         13.62
Royal Sundaram General Insurance Company Limited      2,866.54     2,822.28           1.30           1.57
Magma HDI General Insurance Company Limited      1,757.17     1,283.59           0.80         36.89
Shriram General Insurance Company Limited      1,752.95     2,138.88           0.79       (18.04)
Liberty General Insurance  Limited      1,506.45     1,445.71           0.68           4.20
Acko General Insurance Limited         979.37        422.39           0.44       131.87
Kotak Mahindra General Insurance Company Limited         742.47        543.99           0.34         36.49
Raheja QBE General Insurance Company Limited         375.83        272.22           0.17         38.06
Edelweiss General Insurance Company Limited         348.88        218.57           0.16         59.62
NAVI General Insurance Limited         106.57        104.40           0.05           2.08
Bharti AXA General Insurance Company Limited #           NA     3,159.90           NA           NA
Total PVT 109657.58   98,000.96         65.95         11.89
Total Public sector 75117.59   71,843.72         34.05           4.55

 

 

 

Growth wise Ranking of non-life insurers 2021-22

 

Insurer Premium 21-22 Premium 20-21 % Growth
Acko General Insurance Limited          979.37        422.39  131.87
Bharti AXA General Insurance Company Limited #            NA     3,159.90      NA
Go Digit General Insurance Limited       4,673.94     2,417.62    93.33
Edelweiss General Insurance Company Limited          348.88        218.57    59.62
Raheja QBE General Insurance Company Limited          375.83        272.22    38.06
Magma HDI General Insurance Company Limited       1,757.17     1,283.59    36.89
Kotak Mahindra General Insurance Company Limited          742.47        543.99    36.49
ICICI Lombard General Insurance Company Limited     17,976.86   14,003.09    28.38
Tata AIG General Insurance Company Limited       9,922.53     8,042.06    23.38
The New India Assurance Company Limited     32,569.49   28,548.48    14.08
Universal Sompo General Insurance Company Limited       3,467.81     3,052.16    13.62
Reliance General Insurance Company Limited       9,408.96     8,310.28    13.22
SBI General Insurance Company Limited       9,166.22     8,264.86    10.91
The Oriental Insurance Company Limited     13,700.73   12,449.71    10.05
Cholamandalam MS General Insurance Company Limited       4,828.00     4,388.21    10.02
HDFC Ergo General insurance Company Limited     13,497.55   12,295.10      9.78
Bajaj Allianz General Insurance Company Limited     13,688.59   12,569.53      8.90
Future Generali India Insurance Company Limited       4,137.98     3,835.23      7.89
Liberty General Insurance  Limited       1,506.45     1,445.71      4.20
NAVI General Insurance Limited          106.57        104.40      2.08
Royal Sundaram General Insurance Company Limited       2,866.54     2,822.28      1.57
IFFCO Tokio General Insurance Company Limited       8,452.91     8,410.88      0.50
United India Insurance Company Limited     15,720.91   16,704.70     (5.89)
National Insurance Company Limited     13,126.46   14,140.83     (7.17)
Shriram General Insurance Company Limited       1,752.95     2,138.88   (18.04)
Pvt Growth    11.89
PublicGrowth      4.55

 

Go digit insurance co. in the pvt sector remained the star performer with premium increment of 2256 Cr & growth of 93%. Other star performers in the Pvt sector are ICICI Lombard & Tata AIG with growth rate of 28% & 23% respectively.

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