Reliance General emerges as second largest pvt insurer

Written by Banking Bureau | Mumbai, Jan 28 | Updated: Jan 29 2008, 05:45am hrs
Post detariffing, dislodging Bajaj General Insurance, Reliance General Insurance during the first nine months has emerged as the second largest private sector general insurance in the country. The nine months figure released by the Insurance Regulatory & Development Authority has shown that Reliance General has mobilised Rs 1,524 crore while Bajaj General has mopped up Rs 1,713 crore during the first nine months of the current fiscal.

The total general insurance industry consisting of four state-owned general insurers and eight private general insurers has earned a total premium of Rs 20, 796 crore . The private sector general insurance industry has contributed almost 40% of premium at Rs 8,305 crore, while the public sector general insurers have generated Rs Rs 12,491 crore premium during the reporting period. The largest public sector general insurer New India Assurance has earned a premium of Rs 3,911 crore during the period while National Insurance which was weakest of the four public sector general insurers has stood second among the lot. United India which has mobilised Rs 2,922 crore has been relegated to the fourth position.