It is commendable to note that the private non-life companies are performing well and is trying its best to keep in pace with the state insurer. The results of the first half of the current year reveal that the overall general insurance industry has grown by 15 per cent. The performance of the private companies like ICICI Lombard and Bajaj Allianz has been outstanding.

The thirteen life insurance companies have been vying to accrue more and more business. The total premium income garnered by these companies has summed to a total of Rs 10, 415 crore in the first half of '05. The companies have witnessed a significant growth compared to last year wherein it managed to gather Rs 9,025 crore of premium income. The overall market share of the private companies has increased from 18.5 per cent in the last year to 26 per cent in the current fiscal.

Among the state owned general insurance companies, New India Assurance grew by 10.6 per cent and collected Rs 2,282 crore as its premium income. Its market share stood at 21.9 per cent. National insurance grabbed the second place by collecting Rs 1,780 core, making 17.1 per cent of the market share. United India grew by 2.9 per cent with a premium of Rs 1,628 crore with a market share of 15.6 per cent.

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