News and UpdatesSpotlight

Uncertainties about merger weighing down on the mind of Public sector companies & aggressive approach adopted by the private non-life insurers is quite visible in the data released by the IRDA As per the  overall data of gross direct premium income from April to December 2020, the total market share of the PSU companies  is about 43.90 % only & even that is on the strength of agriculture portfolios which is said to be highly loss making verticals.

The cut in the motor-own damage portfolio is clearly visible as the market share of the PSU companies is has sharply come down to only 29%. The Pvt. Sector growth in motor OD is 9 % whereas the PSU’s have declined with – 15 %. And overall growth of the PVT & Public sector in motor department is 18%  & -4% respectively. The combined growth of all the verticals also show that Pvt. Sector has grown at twice  the rate of growth of PSU’s.

Gross premium of non-life insurers within India: UP TO Dec 2019

Sl No. Insurer Insurer Motor Own Damage Motor Third Party Motor (Total) All departments
1 Acko Current year 49.68 113.90 163.59 279.09
Previous year 13.85 23.56 37.42 88.89
Growth 259% 383% 337% 214%
2 Bajaj Current year 1614.69 2384.93 3999.62 10133.73
Previous year 1543.64 1964.29 3507.93 7665.39
Growth 5% 21% 14% 32%
3 Bharti Current year 650.16 472.03 1122.20 2404.08
Previous year 480.03 318.75 798.78 1640.65
Growth 35% 48% 40% 47%
4 Chola Current year 823.41 1600.46 2423.88 3272.55
Previous year 735.39 1356.92 2092.31 3169.00
Growth 12% 18% 16% 3%
5 DHFL Current year 13.65 67.49 81.14 132.95
Previous year 0.28 4.08 4.36 209.44
Growth 4843% 1553% 1761% -37%
6 Edelweiss Current year 27.11 13.61 40.72 91.44
Previous year 0.09 12.74 12.84 56.54
Growth 28541% 7% 217% 62%
7 Future Current year 400.03 568.00 968.02 2405.72
Previous year 359.16 449.05 808.21 1745.44
Growth 11% 26% 20% 38%
8 GoDigit Current year 360.24 1031.61 1391.85 1642.28
Previous year 147.76 354.84 502.59 529.34
Growth 144% 191% 177% 210%
9 HDFCErgo Current year 1204.21 1255.70 2459.91 6944.73
Previous year 1189.73 941.68 2131.42 6540.07
Growth 1% 33% 15% 6%
10 ICICI Current year 2733.47 2308.11 5041.58 10132.28
Previous year 2482.09 2120.80 4602.89 11003.30
Growth 10% 9% 10% -8%
11 Iffco Current year 1215.08 1342.42 2557.49 6202.08
Previous year 1152.94 1176.63 2329.57 5158.23
Growth 5% 14% 10% 20%
12 Kotak Current year 94.70 83.37 178.08 306.88
Previous year 74.24 68.38 142.62 207.57
Growth 28% 22% 25% 48%
13 Liberty Current year 440.30 329.41 769.70 1125.23
Previous year 320.01 224.52 544.53 808.25
Growth 38% 47% 41% 39%
14 Magma Current year 218.60 552.66 771.26 885.34
Previous year 151.15 368.13 519.28 624.22
Growth 45% 50% 49% 42%
15 Raheja Current year 0.39 53.55 53.95 95.27
Previous year 0.22 45.87 46.09 74.44
Growth 81% 17% 17% 28%
16 Reliance Current year 953.57 1526.65 2480.23 6016.04
Previous year 1012.75 1197.54 2210.29 4874.37
Growth -6% 27% 12% 23%
17 Royal Current year 891.77 657.00 1548.77 2775.07
Previous year 936.83 626.40 1563.23 2436.42
Growth -5% 5% -1% 14%
18 SBI Current year 532.95 356.42 889.37 4849.43
Previous year 454.35 234.14 688.49 3329.88
Growth 17% 52% 29% 46%
19 Shriram Current year 403.22 1328.58 1731.80 1796.64
Previous year 404.12 1180.82 1584.94 1663.47
Growth 0% 13% 9% 8%
20 TataAIG Current year 1344.33 1685.82 3030.15 5688.24
Previous year 1388.61 1359.62 2748.24 5673.54
Growth -3% 24% 10% 0%
21 Universal Current year 270.01 293.79 563.80 2309.34
Previous year 222.22 247.99 470.21 2014.30
Growth 22% 18% 20% 15%
Private Total Current year 14,241.59 18,025.51 32,267.10 69,488.41
Previous year 13,069.47 14,276.75 27,346.22 59,512.75
Growth 9% 26% 18% 17%
0.22 National Current year 1425.17 2825.14 4250.30 11055.60
Previous year 1910.00 2828.36 4738.36 10615.29
Growth -25% 0% -10% 4%
0.23 NewIndia Current year 2105.23 4421.63 6526.86 20704.39
Previous year 2358.67 4313.09 6671.76 18102.44
Growth -11% 3% -2% 14%
0.24 Oriental Current year 917.45 2201.92 3119.37 10076.10
Previous year 1113.02 2215.63 3328.65 9578.41
Growth -18% -1% -6% 5%
0.25 United Current year 1229.51 3692.27 4921.78 12547.04
Previous year 1336.31 3533.46 4869.77 11402.34
Growth -8% 4% 1% 10%
PSU Total Current year 5,677.35 13,140.95 18,818.31 54,383.12
Previous year 6,718.00 12,890.54 19,608.54 49,698.47
Growth -15% 2% -4% 9%

 

 

 

Motor Own Damage Motor Third Party Motor (Total) All Departments
Private Total Current year 14,241.59 18,025.51 32,267.10 69,488.41
Previous year 13,069.47 14,276.75 27,346.22 59,512.75
Growth 9% 26% 18% 17%
PSU Total Current year 5,677.35 13,140.95 18,818.31 54,383.12
Previous year 6,718.00 12,890.54 19,608.54 49,698.47
Growth -15% 2% -4% 9%

 

PSU Mkt share 28.5 % 42.16 % 36.83 % 43.90 %
 

PVT Mkt share

71.5 % 57.84 % 63.17 % 56.10 %

 

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