The non-life industry has registered 18.13% growth in gross underwritten premium for the first quarter of current fiscal ended June to R19,515 crore compared with Rs 16,520 crore in the same quarter last fiscal. The market share of the PSU general insurers has decreased collectively from 58% to 55.25 % for the period April-June while the private non-life players have increased their market share collectively from 42% to 44.75%.
While the PSU non-life insurers ? New India Assurance, United India Insurance, National Insurance and Oriental Insurance ? together reported a growth of 12.55%, private general insurers, totalling 23, posted a growth of 25.84% in the quarter. Private insurers? premium rose from Rs 6,938.81 crore in Q1 of FY13 to 8,732.14 crore in Q1 of FY14.
