annual report 2009-10 - IRDA

ANNUAL REPORT 2009-10TABLE 38DEVELOPMENT PATTERN OF GOODS CARRYING VEHICLESClaim process stageMonth in which per cent development is completed50 % 75 % 90 % 95 %Date of loss to date of intimation 7 14 31 48Date of intimation to date of payment 19 36 55 67Date of loss to date of payment 31 48 67 78TABLE 39DEVELOPMENT PATTERN OF PASSENGERS CARRYING VEHICLESClaim process stageMonth in which per cent development is completed50 % 75 % 90 % 95 %Date of loss to date of intimation 7 16 34 52Date of intimation to date of payment 18 36 56 69Date of loss to date of payment 31 50 70 80I.4.4.10 The development pattern clearly reflects thatthe claims for the third party motor insurance woulddevelop as indicated in the analysis.4.5 MONITORING OF INVESTMENTS BY THEINSURERSI.4.5.1 The IRDA has in place a regulatory frameworkprescribing the pattern of investment to be maintainedby all life and non-life insurance companies, includingthe reinsurer. Within the life segment, stipulations arealso in place for the investment patterns to be compliedwith for the life fund, pension and general annuity andgroup fund, as also for the ULIP funds. All insurersare required to be compliant with the prescribedpattern of investment as laid down by the Authority inthe Investment Regulations notified by it. The detailsof investments held by the life and non-life insurancesector are given below:40Total Investment of the Insurance sectorI.4.5.2 The accumulated investments of the insurancesector increased by 30.38 per cent (18.61 per cent in2008-09) to `12,71,527 crore as on 31 st March, 2010as against `9,75,258 crore as on 31 st March, 2009.The life insurers continued to contribute a significantcomponent of the investments made by the insuranceindustry at 95 per cent of total investments (93.96 percent in 2008-09). In the same vein, the contribution ofpublic sector companies stood at 82 per cent of thetotal investments held by the sector, although with thestabilisation of the operations of the private sectorinsurers, their portfolio of investments has beengrowing at a fast pace in recent years.TABLE 40INVESTMENTS OF THE INSURANCE SECTOR (As on 31 st March)( ` crore)Insurer Life Non-Life Total2009 2010 2009 2010 2009 2010Public 799593 985028 47782 51687 847375 1036715(17.86) (23.19) (1.20) (8.17) (16.78) (22.34)Private 116772 220127 11111 14685 127883 234811(33.35) (88.51) (22.59) (32.16) (32.34) (83.61)Total 916365 1205155 58893 66372 975258 1271527(19.63) (31.51) (4.64) (12.70) (18.61) (30.38)Note:Figures in brackets represent growth in percentage over the previous year