High Losses Plague Private Insurers As Well

Royal Sundaram Alliance leads pack with highest loss-claim ratio of 77 per cent

Royal Sundaram Alliance Insurance has the highest loss-claim ratio at 77 per cent among the private insurance players.

This is just five per cent less than United India Insurance, which has the highest loss-claim ratio in the industry.

Bajaj Allianz General, the largest private insurance player with a loss-claim ratio of 45 per cent, has settled the highest amount in claims during the year ended March 2003. The company paid Rs 99.67 crore, settling 69,994 claims.

As per the unaudited figures released by the Insurance Regulatory and Development Authority (IRDA), United India Insurance incurred the highest loss claim ratio of 82 per cent.

 

Loss-claim ratio identifies the percentage of premiums that go in paying claims during the year.

Against United India