State-run general insurers lose share

For the first time, state-run general insurers account for less than a third of the industry premium at 32.5%, as larger private non-life insurers have consolidated their position in the first five months of the current fiscal, according to the General Insurance Council data.

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Public sector insurers saw their premium income fall by 1% to ₹34,203 crore during the first five months of the current fiscal. As a result, their market share plunged to less than a third at 32.5% from 33.4%, while premium income slipped from ₹37,100 crore to ₹34,203 crore.