annual report 2009-10 - IRDA

ANNUAL REPORT 2009-10TABLE 23PAID UP CAPITAL : NON-LIFE INSURERS*AND REINSURER (As on 31st March)(`crore)2009 2010Non -LifePublic Sector 550 550Private Sector 2533 3160Specialised InsurersECGC 900 900AIC 200 200Health InsurersStar Health 109 164Apollo Munich 107 129Max Bupa** — 151ReinsurerGIC 430 430Total 4829 5684Note: * Including specialised Institutions** Commenced operations in 2009-10Underwriting ExperienceI.3.44 The underwriting losses of the non-life insurancecompanies increased to `5,901 crore in 2009-10, up from`5,324 crore in the previous year. However, thereappeared to be a slowdown in the growth of underwritinglosses at 10.78 per cent (2008-09: 36.52 per cent). Theslowdown was observed both in the case of public andprivate sector non-life insurers.TABLE 24UNDERWRITING LOSSES : NON-LIFE INSURERS(` crore)2008-09 2009-10Public Sector 4226.90 4541.18(28.06) (7.43)Private Sector 1096.87 1359.51(83.14) (23.94)Total 5323.77 5900.69(36.52) (10.78)Note: Figure in brackets indicates growth over the previousyear in per cent.Expenses of Non-Life InsurersI.3.45 The commission expenses of public and privatenon-life insurers stood at `1,826 crore and `677 crorerespectively for 2009-10, cumulatively amounting to atotal commission expense of `2,503 crore for the nonlifeindustry. The commission expenses continued to bethe highest in the Motor segment, which stood at `808crore, comprising of `519 crore for the public sector and`289 crore for the private sector companies.TABLE 25COMMISSION EXPENSES : NON-LIFE INSURERS(` crore)Private Sector Public Sector TotalSegment 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10Fire 59.79 60.79 204.81 239.86 264.60 300.65Marine 42.28 40.51 120.66 123.26 162.94 163.77Motor 259.69 289.48 528.41 519.09 788.10 808.57Health 170.79 129.76 418.7 486.17 589.49 615.93Others 150.24 156.36 398.28 457.43 548.52 613.79Total 682.79 676.9 1670.86 1825.81 2353.65 2502.7126