General insurance shows signs of stability

2007-082008-09 New India1,032.611,106.84 National Insurance724.31819.54 United India730.74796.77 Oriental India743.72731.63 ICICI-Lombard650.93800.84 Bajaj Allianz390.68508.85 Reliance General362.86426.22 Iffco-Tokio208.06274.33 Source: Irda  "The market has now stabilised. The third party premium rates for commercial vehicles were increased by 70 per cent and the premium grew by 12 per cent last year (2007-08). We do not have the advantage of higher third party premium rates this year, but the premium has still grown by 14 per cent. We expect the growth to reach 18 per cent this year," said KN Bhandari, secretary general of the General Insurance Council.  The 10 private players reported gross premium collections of Rs 2,561.74 crore during April and May this year, compared to Rs 2,046.33 crore