Due to Slow down in Automobile industry insurers are also facing multiple challenges. Entire automobile sector was already facing a dip in 2019-2020 & now with spread of Kovid-19 & subsequent lock down, the people have postponed the purchase of new vehicle. Automobile sales constitute a major portion of the premiums, and hence the lock-down and virtual stoppage of business is impacting he non-life insurers in big way.
Motor OD premium data up-to the month of May-20 for non life insurers is available now. Almost all the public as well Pvt. insurers are in the red. Public sector total OD premium is 770 Cr. against the Pvt. sector’s 1829 Cr. Public sector market share in this segment is 29% as compared to the pvt sector share of 71% as on date..
| Insurer | up to may-20 | upto may-19 | % decline |
| Navi General * | 1.25 | 3.92 | |
| Raheja QBE | 5.54 | 0.02 | |
| Acko General | 6.58 | 8.71 | |
| Edelweiss | 7.38 | 0.46 | |
| Kotak Mahindra | 14.43 | 16.32 | |
| Magma HDI | 19.8 | 45.63 | |
| Go Digit | 37.4 | 64.77 | |
| Liberty General | 43.34 | 81.8 | |
| Universal Sompo | 44.69 | 49.66 | |
| Bharti AXA | 57.44 | 126.27 | |
| Shriram General | 60.95 | 85.7 | |
| SBI General | 62.2 | 93.32 | |
| Future Generali | 68.56 | 89.17 | |
| Cholamandalam MS | 103.89 | 184.47 | |
| Reliance General | 111.86 | 250.9 | |
| Royal Sundaram | 118.68 | 181.26 | |
| HDFC ERGO | 147.01 | 258.71 | |
| IFFCO -Tokio | 173.13 | 283.49 | |
| Bajaj Allianz | 208.85 | 336.19 | |
| Tata-AIG | 210.14 | 285.34 | |
| ICICI -Lombard | 326.55 | 562.56 | |
| Total Pvt. Insurers | 1829.67 | 3008.67 | -39.18 |
Market share wise, public was having about 30.62% of motor OD market share up-to may-19 which has come down to 29% this year thus declining by another 1.5%.
| Insurer | up to may-20 | upto may-19 | % decline |
| New India | 307.2 | 479.49 | 35.9 |
| United India | 170.85 | 287.11 | 40.77 |
| Oriental | 113.87 | 210.49 | 46.19 |
| National | 178.76 | 340.03 | 47.64 |
| Total Public insurers | 770.68 | 1317.12 | 41.48 |
Volume wise the pvt. player like ICICI, Tata-AIG & Bajaj are at No. 1,2 & 4 whereas the public sector players have slipped to No 2,5,7 & 10.
Volume wise standing of Non-life insurers in motor OD segment.
| Insurer | Upto-may 20 | Upto May-19 |
| ICICI -Lombard | 326.55 | 562.56 |
| New India | 307.2 | 479.49 |
| Tata-AIG | 210.14 | 285.34 |
| Bajaj Allianz | 208.85 | 336.19 |
| National Insurance | 178.76 | 340.03 |
| IFFCO -Tokio | 173.13 | 283.49 |
| United India | 170.85 | 287.11 |
| HDFC ERGO | 147.01 | 258.71 |
| Royal Sundaram | 118.68 | 181.26 |
| Oriental | 113.87 | 210.49 |
| Reliance General | 111.86 | 250.9 |
| Cholamandalam MS | 103.89 | 184.47 |
| Future Generali | 68.56 | 89.17 |
| SBI General | 62.2 | 93.32 |
| Shriram General | 60.95 | 85.7 |
| Bharti AXA | 57.44 | 126.27 |
| Universal Sompo | 44.69 | 49.66 |
| Liberty General | 43.34 | 81.8 |
| Go Digit | 37.4 | 64.77 |
| Magma HDI | 19.8 | 45.63 |
| Kotak Mahindra | 14.43 | 16.32 |
| Edelweiss | 7.38 | 0.46 |
| Acko General | 6.58 | 8.71 |
| Raheja QBE | 5.54 | 0.02 |
| Navi General * | 1.25 | 3.92 |
Besides motor, most of the other departments are also showing downward trend.However some good surge in fire & health verticals have given some breathing space to non-life insurer.
Compiled by: JD Batta-Surveyor & Loss Assessor