The four public sector insurance companies United India, National Insurance, Oriental Insurance, and New India Assurance have collectively crossed the Rs 25,000 figure in terms of premium collections for the financial year 2010-2011.
Government-owned New India Assurance, which is the largest non-life insurer in India, leads the pack with a premium collection of Rs 7,070.22 crores. This is a 17% growth over its collections of Rs 6,042.51 crores in the previous year.
National Insurance has recorded the highest jump of 32% during FY 2010-11 compared to that in the previous year. The insurer has mobilized insurance premiums to the tune of Rs 6,115 crores over Rs 4,625 crores in the previous year.
United India has surpassed the previous year’s collections by 21.71 percent and has collected Rs 6,376.37 crores in FY 2010-11.
Oriental Insurance is the lowest amongst the four PSUs in terms of premium collections as well as the growth percentage over the previous year. The total premium collection of Oriental in FY 2010-11 is Rs 5,439.60 crores over Rs 4,736 crores in the previous year.
The total premium collection of these four PSUs is Rs 25,001.60 crores.
