Skip to main content

Life insurers’ new business grows 22% to Rs 55,355 crore in April-Nov

Market Share Of LIC Jumps To 66% During First Eight Months Of FY10


   THE new businesses of the life insurance companies grew 22% to Rs 55,355 crore in the first eight months of the current fiscal, compared to the corresponding period last year. The industry mopped up Rs 45,337 crore during the same period last fiscal, according to IRDA data. 


   The market share of LIC among 23 players in the sector jumped to 66% at Rs 36,448 crore during the first eight months of 2009-10, from Rs 25,219 crore during the same period last fiscal. However, the private life insurance industry has registered a decline of 6%. The 22 private insurers have collected Rs 18,905-crore first year premium during April-November this fiscal, compared to Rs 20,116 crore during the same period last year. 

   Private insurer ICICI Prudential was the worst hit as its premium declined 28% at Rs 3,031 crore in the first eight months of the current fiscal from the corresponding period last year. The insurer mopped up first year premium of Rs 4,246 crore in the corresponding period last year. 

   The country's largest private life insurer SBI Life garnered a first year premium of Rs 3,523 crore compared to Rs 3,290 crore last year, registering a 7% growth. In the first eight months of the current fiscal, non-life or general insurance industry grew 9.40% in premium collection, with state-run players performing better than the private ones. 

   During April-November period this year, four public insurers registered a growth of 11.05% by mopping up a premium of Rs 13,127 crore compared to Rs 11,821 crore during the corresponding period last year. 

   New India managed to mop up the highest premium at Rs 3,929 crore in the first eight months of this fiscal. On the other hand, private players grew 7.1% during April-November period this year by collecting Rs 9,075 crore premium.
   The worst hit was ICICI Lombard among the private players registering a degrowth of 13.6% and collecting Rs 2,135 crore premium in the first eight months of the current fiscal. 

   Another big player Bajaj Allianz's premium also declined by 11%. The general insurer mopped up Rs 1,603 crore premium during April-November period this year compared to Rs 1,801 crore in the corresponding period last fiscal.

 


Popular posts from this blog

ICICI Prudential Dynamic Plan Invest Online

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   ICICI Prudential Dynamic Plan             Invest Online This fund does remarkably well during falling markets, but fails to show the same prowess during a rising market. The fund sticks to its mandate to adapt to the dynamic nature of the market by shuttling between debt and equity. It takes aggressive asset calls in equity when the market surges by investing in quality mid-cap stocks. At the same time, it adopts a defensive strategy by investing in debt and cash when markets get overvalued, making it a good long-term choice.     For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   Leave your comment with mail ID and we will ...

What are the factors affect the changes in Interest Rate of Fixed Deposits?

  What are the factors affect the changes in rate of Fixed Deposits? Fixed Deposits are now considered to be a very old fashioned method of saving, but still attract many investors since they have guaranteed returns at the end of the tenure of the investment at a decent interest rate. There are various factors that affect the rates of interest for a Fixed Deposit. Policies of the Reserve Bank of India   - The several norms and restrictions posed by the Reserve Bank of India , in order to gain optimum control over credit and inflow and outflow of fund throughout the country. The repo rate changes, cash reserve ration tends to change and these changes affect the banking products like Fixed Deposits, loans etc. Recession   - When unemployment in a country crosses the benchmark set Recession hits, and slowly the country faces an economic slow movement, affecting the purchasing power of the people in the country, forcing the Reserve Bank of India to release more funds in the financial marke...

Understanding Your Cibil Credit Information Report

   WE ARE all familiar with the anxiety and uncertainty that we feel when applying for a loan. After all, it's the lender who decides whether we can own our dream home, our first car, or whether our children can pursue higher education. In a nutshell, a better life depends on the lender's decisions.    While other factors do play a part in the lender's decision, the Cibil Credit Information Report ( CIR ) plays a crucial role in a lender's decision to approve a loan application.    Previously, lenders would treat all loan seekers equally. Each applicant, if approved by the lender's internal credit policy, would be charged at the same interest rate for a particular loan size and purpose. The lenders would charge a higher interest rate to all the borrowers, in order to compensate for the possible default of a small portion of the loan disbursed. In other words, it's like a professor (the lender) punishing an entire class (borrowers) for the mischief played b...

Mutual Fund Review: ING Dividend Yield

  ING Dividend Yield's small assets enable the fund manager to churn in impressive returns… Strategy The aim of the fund is to invest in stocks which offer a high dividend yield. This fund deploys a value based strategy which aims to gain from investing in fundamentally strong and free cash flow generating businesses. The scheme focuses not only on growth but also on the cash generated by the business, which mostly leads to stable returns even in volatile markets. This fund has a low volatility because of its investment in high yielding stocks. The scheme tries to include stocks that yield dividend above the dividend yield of the Nifty and stocks with liquidity, which throws up a universe of 150 stocks.   Our View Launched in October 2005, this fund invests at least 65 per cent of its assets in high dividend yield stocks. The fund has consistently maintained a mix of stocks across varying market capitalisation, with a higher tilt to mid caps compared to small caps. Howev...

Capital Protection Oriented Funds

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Capital Protection Oriented Funds   Erosion of capital is one of the key concerns for investors wanting to invest in equity mutual funds. To address this concern, asset management companies have launched Capital Protection Oriented Funds (CPOFs). What are CPOFs? CPOFs are generally three to five-year, closed-ended funds where 70-80% of the portfolio is invested in fixed income securities, which mature on or before the scheme's tenure. The investment in fixed income securities grows to 100% at the end of the tenure, providing the investor with capital protection. The remaining portion (20-30%) is used to take exposure to equity, which provides the upside. Exposure to equities is either by directly buying equity stocks (plain vanilla CPOFs) or by b...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now