ICICI Lombard market share highest among private players in April-Dec 2011

ICICI Lombard General Insurance Company had the highest market share in the gross premium underwritten by private non-life insurers in India between April-December 2011.

According to segment-wise figures released by the Insurance Regulatory and Development Authority, ICICI Lombard had a market share of 9.07 per cent with a total gross premium underwritten across all segments at Rs 3,812 crore, compared with Rs 3,123 crore in the year-ago period.

In terms of market share, the company saw a marginal decline of about 15 basis points.

Bajaj Allianz came in second with a market share of 5.67 per cent and Rs 2,384 crore in the total gross premium underwritten.

The total gross premium underwritten by the private non-life insurers has increased to Rs 17,525 crore from Rs 13,825 crore, representing 41.70 per cent market share.

Among the public players, New India had the highest market share of 14.96 per cent with Rs 6,287 crore of total gross premium underwritten.

United India followed with 13.82 per cent market share and a premium of Rs 5,808 crore.