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Market share of PSU general insurers drops 800 bps in 5 years: IRDAI
- The 4 public sector general insurance companies – New India Assurance, United India Insurance, Oriental Insurance, and National Insurance Company have lost 800 basis points (bps) in market share in last 5 years to their private counterparts, the data from the Insurance Regulatory and Development Authority (IRDAI) revealed.
- In 2018-19, the 4 had a cumulative market share of 40.04%, with New India Assurance having a market share of 14% and United India Insurance with a market share of 9.63%.
