annual report 2008-09 - IRDA
annual report 2008-09 - IRDA
annual report 2008-09 - IRDA
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ANNUAL REPORT <strong>2008</strong>-<strong>09</strong><br />
TABLE 19<br />
GROSS DIRECT PREMIUM INCOME IN INDIA<br />
TOTAL<br />
(Rs. Crore)<br />
Market Share<br />
(In per cent)<br />
Company 2007-08 <strong>2008</strong>-<strong>09</strong> 2007-08 <strong>2008</strong>-<strong>09</strong><br />
National 4007.23 4279.90 14.40 14.10<br />
New India 5276.92 5508.83 18.97 18.15<br />
Oriental 3808.14 3964.25 13.69 13.06<br />
United 3739.56 4277.77 13.44 14.<strong>09</strong><br />
Sub-Total 16831.85 18030.75 60.49 59.41<br />
Royal Sundaram 694.41 803.36 2.50 2.65<br />
Reliance 1946.42 1914.88 7.00 6.31<br />
Iffco-Tokio 1128.15 1374.06 4.05 4.53<br />
Tata AIG 782.64 823.92 2.81 2.71<br />
ICICI Lombard 3307.12 3402.04 11.89 11.21<br />
Bajaj Allianz 2379.92 2619.29 8.55 8.63<br />
Cholamandalam 522.34 685.44 1.88 2.26<br />
HDFC Ergo 220.60 339.21 0.79 1.12<br />
Future Generali 9.81 186.49 0.04 0.61<br />
Universal Sompo 0.48 30.14 0.00 0.10<br />
Shriram - 113.76 - 0.37<br />
Bharti Axa - 28.50 - 0.<strong>09</strong><br />
Raheja QBE - - - -<br />
Sub-Total 1<strong>09</strong>91.89 12321.<strong>09</strong> 39.51 40.59<br />
Grand Total 27823.74 30351.84 100.00 100.00<br />
The Motor business continued to be the largest<br />
general insurance segment, although its share in the<br />
total non-life premium declined marginally in <strong>2008</strong>-<strong>09</strong><br />
to 43.94 per cent from 45.59 per cent in 2007-08.<br />
TABLE 20<br />
PREMIUM (WITHIN INDIA) UNDERWRITTEN BY<br />
NON-LIFE INSURERS - SEGMENT-WISE<br />
(Rs. Crore)<br />
Segment 2007-08 <strong>2008</strong>-<strong>09</strong><br />
Fire 3459 3383<br />
(12.43) (11.14)<br />
Marine 1799 1957<br />
(6.47) (6.45)<br />
Motor 12685 13336<br />
(45.59) (43.94)<br />
Health 4894 6088<br />
(17.59) (20.06)<br />
Others 4986 5588<br />
(17.92) (18.41)<br />
Total Premium 27824 30352<br />
(100) (100)<br />
Note : Figure in brackets indicates market share (in percent)<br />
The premium collection in Health surged further to<br />
Rs.6088 crore in <strong>2008</strong>-<strong>09</strong> from Rs.4894 crore of 2007-<br />
08, registering a growth of 24.40 per cent. This led to<br />
an increase in its share to the total premium to 20.06<br />
per cent in <strong>2008</strong>-<strong>09</strong> from 17.59 per cent in 2007-08<br />
and 13.33 per cent in 2006-07. The growth in the<br />
health segment was higher than the average general<br />
industry growth.<br />
The Fire segment witnessed a decline in premium<br />
collection in absolute terms as well as in terms of its<br />
market share in <strong>2008</strong>-<strong>09</strong> from the previous year. Under<br />
Fire insurance, the total premium underwritten in <strong>2008</strong>-<br />
<strong>09</strong> was Rs.3383 crore (Rs.3459 crore in 2007-08),<br />
resulting into a fall in its market share to 11.14 per<br />
cent from 12.43 per cent in 2007-08.<br />
Note: ‘ – ‘ indicates not in operation<br />
17
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