India is having booming auto sales & accordingly the non-life insurance industry is clocking double digit growth. The motor segment is the 2nd biggest vertical after the health portfolio. The most of the new premium in motor portfolio is being acquired by the private sector players & the public sector players except the New India Assurance, have been reduced to negligible players in the segment. The public sector units like national insurance, united India insurance & oriental insurance which used to be the major players in the motor segment have been pushed to no.7, 10 & 12 respectively out of total 24 non-life insurers.
| Motor OD GROSS DIRECT PREMIUM INCOME UNDERWRITTEN BY NON-LIFE INSURERS WITHIN INDIA FOR THE PERIOD UPTO June 2023 (PROVISIONAL & UNAUDITED ) IN FY 2023-24 (Rs. In Crs.) | ||
| Name | Motor OD | |
| ICICI Lombard General Insurance Co Ltd | 919.88 | |
| The New India Assurance Co Ltd | 818.77 | |
| Tata AIG General Insurance Co Ltd | 738.38 | |
| Bajaj Allianz General Insurance Co Ltd | 634.8 | |
| IFFCO-Tokio General Insurance Co Ltd | 563.68 | |
| Cholamandalam MS General Insurance Co Ltd | 479.63 | |
| National Insurance Co Ltd | 440.94 | |
| HDFC Ergo General Insurance Co Ltd | 415.8 | |
| Go Digit General Insurance Ltd | 403.55 | |
| United India Insurance Co Ltd | 400.21 | |
| Reliance General Insurance Co Ltd | 334.02 | |
| The Oriental Insurance Co Ltd | 246.4 | |
| Royal Sundaram General Insurance Co Ltd | 236.33 | |
| SBI General Insurance Co Ltd | 218.17 | |
| Future Generali India Insurance Co Ltd | 212.52 | |
| Universal Sompo General Insurance Co Ltd | 200.35 | |
| Liberty General Insurance Co. Ltd | 195.32 | |
| Shriram General Insurance Co Ltd | 110.51 | |
| Magma HDI General Insurance Co Ltd | 97.99 | |
| Kotak Mahindra General Insurance Co Ltd | 76.22 | |
| Acko General Insurance Ltd | 55.91 | |
| Zuno General Insurance Co Ltd | 35.9 | |
| Raheja QBE General Insurance Co Ltd | 3.26 | |
| Navi General Insurance Co. Ltd | 0.19 | |
| Total | 7838.73 | |
| Public sector premium | 1906.32 | |
| Private sector premium | 5932.41 | |
| Public sector share | 24.31% | |
| Private sector share | 75.69% | |
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