ICICI Lombard tops among private players

Among the twelve private players, it is ICICI Lombard that has been able to cross Rs 1,000 crore in premium collection. The general insurance industry has grown by a remarkable 15% till November in the current financial year. However, the performance of Reliance General Insurance Company has dipped, the reason being the dispute between the Ambani brothers. In all, the private players have accumulated over Rs 13,000 crore in total between the months from April to November. Among the state owned general insurers, New India has grown by an impressive 13% collecting Rs 3,094 crore in premium and garnered a market share of 23.05%. Oriental Insurance captured the second position with a premium collection of over Rs 2,330 crore. National Insurance took the third position followed by United India at the fourth place. All these companies have indulged into a fast paced competition and the customers being at the receiving end has benefited from it. Among the private general insurers, ICICI Lombard has undoubtedly performed well and is justifiably reigning the number one position.