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New Business Stats [April to Oct 04]
Insurer- Life (Rs. - Crores)
Insurer |
Premium |
Market Share |
ICICI-PRU |
568.38 |
5.71 |
BIRLA SUN |
286.08 |
2.87 |
BAJAJ ALNZ |
235.38 |
2.37 |
SBI LIFE |
219.74 |
2.21 |
LIC |
8005.75 |
80.44 |
Insurer- Non Life (Rs. - Crores)
Insurer |
Premium |
Market Share |
ICICI-LOM |
500.15 |
4.68 |
BAJAJ ALNZ |
466.63 |
4.37 |
PUBLIC SEC |
8696.94 |
81.40 |
FUSION IN INSURANCE BECOMES REALITY- STRATEGIC ALLIANCE "MOU" SIGNED BETWEEN NATIONAL (GIC) & BIRLA SUN (LIC) IN DEC 04
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F Y 2004-05 RESULTS [No. 1 & 2]
ALL FIGURES UP TO JUNE 2004 |
Insurer Non
Life |
Premium (Rs.)
Crores |
Market Share |
GROWTH - Prev. Yr. Corespndg Period |
ICICI-LOMB |
220.48 |
4.53 |
74.77 |
BAGICL |
210.31 |
4.32 |
76.66 |
INSURANCE MUSCLE - ECONOMY BULL NAMED "LIC"
LIC PLANS TO ADD Rs. 10,000 CRORES TO IT's Rs. 25,000 CRORE EQUITY PORTFOLIO [ Market Value Rs. 50,000 Crores appox.]
The insurance behemoth is one of the key movers of the Share Bazaar.
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| Delhi's Street Lights (30,000 nos.) To Be INSURED - Delhi Govt. |
RESULTS (prov.) FY 2003-2004
in crores
PVT NON LIFE PLAYERS
Gross Premium Underwritten
No. 1
ICICI LOMBARD- Rs. 506.72
No. 2
BAJAJ ALLIANZ- Rs. 476.31
PUBLIC SECTOR NON LIFE PLAYERS
No. 1
NEW INDIA - Rs. 4028.32
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RESULTS (prov.) FY 2003-2004
in crores
PVT LIFE PLAYERS
Ist Year Premium Underwritten
No. 1
ICICI PRUDENTIAL- Rs. 750.91
No. 2
BIRLA SUNLIFE- Rs. 449.86
PUBLIC SECTOR -LIFE PLAYER
LIC OF INDIA - Rs. 16284.68
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| IRDA Directs United India to withdraw - Uni Industry Care Insurance Policy :June-04 |
PVT LIFE PLAYER- No.1
ICICI PRU - Rs. 750.91 Cr.
PVT NON LIFE PLAYERS- No. 1
ICICI LOMBARD- Rs. 506.72 |
LIC Loses grip over cities, thrives
in villages- 1st Year Premium
income dips by 11.7% -HT news |
| WALK-IN-CLAIM CLEARANCE CAMPAIGN - UNITED INDIA INSURANCE - 21 June to 9 July 2004 |
THE BUDGET EFFECT
* IMPOSITION OF SERVICE TAX ON INSURANCE PREMIUM - WOULD MEAN- HIGHER PRICE FOR BUYERS
&
HUGE INVESTMENT OF INSURERS ON COMPUTER APPLICATION SOFTWARE TO INCORPORATE THIS CHANGE.
* HIKE IN FDI ( FOREIGN DIRECT INVESTMENT) - WOULD MEAN - MORE INFLOW OF FUNDS
&
FOREIGN PARTNERS COULD INCREASE THEIR STAKES UP TO 49 % AGAINST 74:26 FORMULA.
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