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India: Private sector general insurers gain market share


Data released by India's Insurance Regulatory and Development Authority showed that private sector general insurers' combined market share in terms of gross premium collected rose to 44% in fiscal year 2014, from 42.77%, NDTV reported.

Bajaj Allianz General Insurance Co. Ltd. chief executive Tapan Singhel said the insurer managed "a combined ratio of 98.1%" because of their prudent underwriting discipline.

Reliance General Insurance Co. Ltd. chief executive Rakesh Jain said the sector is "going through a difficult time, but we relied on diversified growth."

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