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Premium Collection of Bharti AXA General and Shriram General doubles in 2011

Bharti AXA General Insurance Company Ltd and Shriram General Insurance Company Ltd have almost doubled their premium collections this year.

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Last Updated - May 17, 2023
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Bharti AXA General Insurance Company Ltd and Shriram General Insurance Company Ltd have almost doubled their premium collections this year.

Bharti AXA GI is a 74:26 joint venture between Bharti Enterprises and AXA Group. Between April 2009 and February 2010, Bharti AXA GI collected only Rs. 244.06 crores. According to the latest data submitted by all the non-life insurance companies, Bharti AXA GI has collected Rs. 491.23 crores in premiums for the period April 2010 to February 2011. Although the insurer’s contribution to the total business done by all the private general insurers is only 3.1 percent, which is far less than ICICI Lombard’s 24.5 percent, Bajaj Allianz’s 16.5 percent and IFFCO Tokio’s 10.3 percent; their growth percentage compared to last year’s figures is 101.3 percent. This is the highest growth shown by any private general insurer for the period from April 2010 to February 2011.

Bharti AXA General Insurance was also one of the first companies to cross the Rs. 200 crore gross written premiums (GWP) mark within the first year of operations.

Shriram General Insurance Company is next in line with a 91.9 percent growth in its premium collections between April to February this year, as compared to the business done in the corresponding period last year. The company is a joint venture between Shriram Capital Limited (Part of Shriram Group) and South Africa’s Sanlam Limited. The total premium amount collected by Shriram General up to February this year is Rs. 687.48 crores, which takes its contribution to the total business of private general insurers to 4.3 percent. As against these figures, the company collected premiums worth Rs. 358.20 crores for the corresponding period last year.

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Jay Vasa is a content writer, who has got his core emphasis on insurance related information. The sole motive of writing articles is to spread appropriate information to the people regarding one of the important and discussed topic in today's time.