After bit of a pressure from govt. of India, the public sector non-life insurers got serious towards growth & put-up good accretion numbers. Although, accretion wise the pvt sector companies took up the top three slots & National insurance, United India insurance, New India & oriental insurance were placed at no. 4,5,6 & 7 respectively, out of the total of 24 general insurers.
Accretion is the amount of premium increase & public sector put up a reasonable show in FY 22-23. United India once a laggard, surprised everyone with accretion of 1921.07 Cr. & was placed above the Indian non-life giant “New India Assurance”. It was told by the sources, that with induction of sum new faces at RO level & backing of the H.O. enthusiastic management team, the company put up an improved show,
| GROSS DIRECT PREMIUM INCOME UNDERWRITTEN BY NON-LIFE INSURERS WITHIN INDIA (SEGMENT WISE) : FOR THE PERIOD UPTO March 2023 (PROVISIONAL & UNAUDITED ) IN FY 2022-23 (Rs. In Crs.) | |
| Accretion | |
| General Insurers | |
| Tata AIG General Insurance Co Ltd | 3151.04 |
| HDFC Ergo General Insurance Co Ltd | 3138.26 |
| ICICI Lombard General Insurance Co Ltd | 3048.24 |
| National Insurance Co Ltd | 2133.3 |
| United India Insurance Co Ltd | 1921.07 |
| The New India Assurance Co Ltd | 1913.31 |
| The Oriental Insurance Co Ltd | 1886.61 |
| SBI General Insurance Co Ltd | 1662.17 |
| Bajaj Allianz General Insurance Co Ltd | 1648.06 |
| Go Digit General Insurance Ltd | 1486.12 |
| IFFCO-Tokio General Insurance Co Ltd | 1418.06 |
| Cholamandalam MS General Insurance Co Ltd | 1331.87 |
| Reliance General Insurance Co Ltd | 930.04 |
| Magma HDI General Insurance Co Ltd | 776.96 |
| Universal Sompo General Insurance Co Ltd | 646.96 |
| Acko General Insurance Ltd | 521.19 |
| Shriram General Insurance Co Ltd | 512.84 |
| Royal Sundaram General Insurance Co Ltd | 512.82 |
| Liberty General Insurance Co. Ltd | 450.88 |
| Future Generali India Insurance Co Ltd | 408.26 |
| Kotak Mahindra General Insurance Co Ltd | 391.64 |
| Zuno General Insurance Ltd $ | 184.62 |
| Raheja QBE General Insurance Co Ltd | 4.12 |
| Navi General Insurance Co. Ltd | -35.99 |
| General Insurers Sub Total | 30042.44 |