Rel General crosses over Rs 1,000 cr premium in 1H-FY10
Anil Ambani Group firm Reliance General Insurance has achieved a premium collection of more than Rs 1,000 crore in the first half of this fiscal.
New Delhi: Anil Ambani Group firm Reliance
General Insurance has achieved a premium collection of more
than Rs 1,000 crore in the first half of this fiscal, making
it the fastest growing non-life insurer among the top-five
The premium collection of over Rs 1,000 crore during six
months period is the fastest since the inception of the
company, Reliance General Insurance CEO K A Somasekharan said.
"Focus on retail and enhanced distribution network
contributed to the growth," he said.
According to the preliminary data of the General
Insurance Council, Reliance General recorded maximum growth
among the top 5 private players during April-September period.
The company logged growth of 6 per cent at Rs 1,046 crore
during the first half of 2009-10 compared to Rs 986 crore in
the same period previous fiscal.
However, the largest private sector player ICICI Lombard,
according to the data, recorded a decline of 16 per cent in
ICICI Lombard collected premium of Rs 1,612 crore in the
first half of the fiscal against Rs 1,925 crore in the same
period last year.
At the same time, premium collection of Bajaj Allianz
shrunk by 14 per cent to Rs 1,218 crore from Rs 1,416 crore in
the same period a year ago.
Other top private sector players like Tata AIG General
Insurance also registered a negative growth of 7 per cent,
while Iffco-Tokio`s portfolio grew by 5 per cent at Rs 751