annual report 2008-09 - IRDA

ANNUAL REPORT 2008-09
TABLE 23
UNDERWRITING LOSSES : NON-LIFE INSURERS
(Rs. Crore)
Insurer 2007-08 2008-09
Public Sector 3300.59 4226.90
(34.66) (28.06)
Private Sector 598.90 1099.21
(62.77) (83.54)
Total 3899.49 5326.11
(52.47) (36.58)
Note: Figure in brackets indicates growth over the previous
year in per cent.
Expenses of Non-Life Insurers
Commission expenses and operating expenses
constitute major part of the total expenses. The
operating expenses of general insurance companies
stood at Rs.7367.09 crore in 2008-09 as against
Rs.6137.04 crore in 2007-08, registering a growth of
20.04 per cent. This growth in the operating expenses
was some what lower for public insurers (19.01 per
cent) than for private insurers (21.57 per cent).
TABLE 24
OPERATING EXPENSES : NON-LIFE INSURERS
(Rs. Crore)
Insurer 2007-08 2008-09
Public Sector 3652.96 4347.21
Private Sector 2484.08 3019.88
Total 6137.04 7367.09
Note : Public sector does not include ECGC, AIC AND GIC
The commission expense of public and private general
insurers stood at Rs.1519.54 crore and Rs.682.79
crore respectively, amounting to a total commission
expense of Rs.2353.65 crore. The commission
expenses continued to be the highest in the Motor
segment, which stood for Rs.788.10 crore, comprising
of Rs.528.41 crore under public sector and Rs.259.69
crore under private sector companies. In the case of
private insurers, commission expenses reduced,
whereas for public insurers they have increased.
TABLE 25
COMMISSION EXPENSES
(Rs. Crore)
Total Private Sector Public Sector
Segment 2007-08 2008-09 2007-08 2008-09
Fire 80.97 59.79 199.54 204.81
Marine 37.4 42.28 118.15 120.66
Motor 234.99 259.69 503.33 528.41
Health 133.79 170.79 359.18 418.7
Others 150.24 150.24 339.34 398.28
Total 637.39 682.79 1519.54 1670.86
Investment Income
The investment income for all non-life insurers have
come down from Rs.6983.56 crore during 2007-08 to
Rs.5890.98 crore in 2008-09. While private sector
insurers have increased their investment income, the
investment income of public sector companies
declined during 2008-09. The investment income of
public sector insurers declined from Rs.6241.51 crore
in 2007-08 to Rs.4799.78 crore during 2008-09, a
decline of 23.10 per cent.
TABLE 26
INVESTMENT INCOME
(Rs. Crore)
Insurer 2007-08 2008-09
Public sector 6241.51 4799.78
(7.91) (-23.10)
Private sector 742.05 1091.2
(78.79) (47.05)
Total 6983.56 5890.98
(12.65) (-15.65)
Note: Figure in brackets indicates the growth rate (in per cent)
of the respective sector over the previous year.
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