Results of the non-life market for the year 2013-14

During the financial year 2013-14, the non-life insurance market, in India, has collected a total of 77.38 billion INR (12.95 billions USD) of gross premiums, a progress of 12.23% compared to 2012-13.

The 4 state-owned insurance companies have represented 432.92 billion INR (7.23 billion USD) of this result, a figure up by 9.86% compared to the previous period, for a total of 55.8% of market shares.

With 44.2% of market shares, private companies have nevertheless shown a better progress in terms of collected gross premiums (+15.37% compared to the previous year).

Note that many company executives expect a 15% increase in non-life premiums in 2014-15.