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Oct 8 2010 12:53PM
National is 3rd-largest insurer

New Delhi: State-run National Insurance has piped Oriental Insurance to become the third largest non-life insurer in terms of premium collection. According to IRDA data, National Insurance Company has mopped up Rs 2,376 crores premiums during April-August this year compared to Rs 1,847 crores in the corresponding period last fiscal. Oriental Insurance collected Rs 2,225 crores in the first five months of the current fiscal against Rs 1,956 crores mopped up during April-August last year. Overall, the general insurance industry grew 22.53 per cent in the first five months of the current fiscal by collecting Rs 17,423 crores premium. The highest premium of Rs 3,051 crores was collected by state-run New India Insurance, which grew by 20.11 per cent during April-August, while United India mopped up Rs 2,571 crores, an increase of 24.03 per cent over a year-ago period. The four public insurers mopped up Rs 10,224 crores in the first five months of the current fiscal, an increase of 21.46 per cent, compared to the year-ago period. The private insurers collected Rs 7,198 crores in the first five months of the current fiscal against Rs 5,801 crores in the corresponding period last year. Among private insurers, ICICI Lombard collected Rs 1,755 crores premium during April-August this year, an increase of 27.61 per cent over a year ago period. Besides, Bajaj Allianz mopped up Rs 1,198 crores in the first five months of the current fiscal, an increase of 15.26 per cent, compared to the corresponding period last year. However, Reliance General’s premium declined 21.34 per cent during April-August this year to Rs 689 crores.
 
 
 
 
 
 
 
 
 
     
 
     
 
 
 
 
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