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Annual Report 2014-15 PDF
Annual Report 2014-15 PDF
2014-15
Head Office
Delhi Office
Gate No.3, 1st Floor, Jeevan Tara
Parliament Street, New Delhi - 110 001
INDIA
Phone : +91-11-2374 7648
Fax : +91-11-2374 7650
CONTENTS
Page No.
MISSION STATEMENT
IRDAI Members of the Authority 31.03.2015
SENIOR OFFICIALS AT IRDAI
PART I
POLICIES AND PROGRAMMES
I.1
...................
I.2
...................
I.3
...................
I.4
Review
...................
28
I.4.1
...................
28
I.4.2
...................
35
I.4.3
Monitoring of Reinsurance
...................
36
I.4.4
Insurance Pools
...................
37
I.4.5
...................
42
I.4.6
...................
45
I.4.7
...................
57
I.4.8
...................
60
I.4.9
...................
61
I.4.10
Crop Insurance
...................
63
I.4.11
Micro Insurance
...................
66
I.4.12
...................
70
I.4.13
...................
70
PART II
REVIEW OF WORKING AND OPERATIONS
II.1
...................
71
II.2
...................
73
II.3
...................
81
II.4
...................
82
II.5
...................
84
II.6
Public Grievances
...................
89
II.7
...................
92
II.8
Functioning of Ombudsmen
...................
97
Page No.
PART III
STATUTORY AND DEVELOPMENTAL FUNCTIONS OF THE AUTHORITY
III.1 Issue to the applicant a certificate of registration, renew, modify,
withdraw, suspend or cancel such registration
...................
99
..................
100
...................
101
III.4 Specifying the code of conduct for surveyors and loss assessors
...................
103
...................
104
...................
106
III.7 Levying fees and other charges for carrying out the purposes of the Act
...................
107
...................
107
III.9 Control and regulation of rates, advantages, terms and conditions that
may be offered by insurers in respect of general insurance business not
so controlled and regulated by the Tariff Advisory Committee under
section 64U of the Insurance Act, 1938 (4 of 1938)
..................
109
III.10 Specifying the form and manner in which books of accounts shall be
maintained and statements of accounts shall be rendered by Insurers
and other insurance intermediaries
...................
109
...................
109
....................
110
...................
110
...................
110
...................
111
...................
111
vi
Page No.
PART IV
ORGANISATIONAL MATTERS
IV.1
Organisation
...................
113
...................
113
...................
113
...................
114
...................
114
...................
115
...................
115
IV.8 Accounts
...................
116
...................
116
IV.10 Acknowledgements
...................
117
...................
50
2.
...................
76
3.
...................
79
4.
...................
82
TEXT TABLES
I.1
National Income
...................
I.2
...................
I.3
...................
I.4
...................
I.5
...................
I.6
...................
I.7
...................
I.8
...................
I.9
...................
10
...................
11
I.11
...................
11
I.12
...................
12
...................
12
Page No.
I.14 Operating Expenses: Life Insurers
...................
13
...................
13
...................
14
...................
14
...................
16
...................
16
...................
17
...................
18
...................
19
...................
20
...................
21
I.25 Gross Direct Premium from Business Outside India: Non-Life Insurers
...................
21
...................
22
...................
22
...................
23
...................
23
...................
23
...................
24
...................
25
...................
25
...................
26
...................
26
...................
26
...................
27
...................
35
...................
39
...................
40
I.41 Reinsurance placed within India and Outside India as per cent of
Gross Direct Premium in India.. (Excluding GIC)
...................
40
...................
40
viii
Page No.
I.43 Net Retentions of Non-life insurers as per cent of
Gross Direct Premium (Including GIC)
...................
41
I.44 Premium Ceded under Declined Risk Pool for the year 2014-15
...................
41
...................
42
...................
43
...................
43
...................
44
...................
44
I.50 Trend in Health Insurance Premium over the past five years
...................
45
...................
46
...................
48
...................
48
...................
49
...................
49
...................
49
...................
51
...................
52
...................
52
...................
54
...................
54
I.62 Claims handled directly by the Insurers (both through TPAs and In-house)
...................
55
...................
55
...................
56
I.65 Aging of claims handled directly by the Insurers (both through TPAs and In-house) ...................
56
...................
57
...................
58
...................
59
...................
63
...................
64
...................
65
ix
Page No.
I.72 Coconut Palm Insurance Scheme (CPIS)
...................
66
...................
67
...................
68
...................
68
...................
69
...................
69
...................
69
...................
70
II.1
...................
73
II.2
...................
73
II.3
...................
74
II.4
Group New Business Performance of Life Insurers for 2014-15 Channel-wise ...................
76
II.5
...................
77
II.6
...................
78
II.7
...................
80
II.8
...................
80
II.9
...................
81
...................
82
...................
84
...................
89
...................
91
...................
98
...................
105
CHARTS
I.1
...................
I.2
...................
I.3
...................
I.4
...................
I.5
...................
Page No.
I.6
...................
I.7
...................
I.8
...................
10
I.9
...................
15
...................
15
I.11
...................
17
...................
17
...................
17
...................
17
...................
18
...................
19
...................
20
...................
27
...................
45
...................
46
...................
47
...................
53
...................
53
II.1
...................
75
II.2
...................
75
II.3
...................
77
II.4
...................
90
II.5
...................
91
II.6
...................
91
STATEMENTS
1.
...................
121
2.
...................
122
3.
...................
123
4.
...................
124
5.
...................
125
6.
...................
127
xi
Page No.
7.
...................
129
8.
...................
131
9.
...................
134
10.
...................
135
11.
...................
136
12.
...................
137
13.
...................
138
14.
...................
139
15.
...................
140
16.
...................
142
17.
...................
143
18.
...................
144
19.
...................
145
20.
...................
146
ANNEXURE
1.
...................
149
2.
...................
151
3.
(I) Indian Assured Lives Mortality (2006-08) Ultimate & (II) Mortality
for Annuitants: LIC (a) (1996-98) Ultimate Rates
...................
152
4.
List of Life Insurance Products and Riders approved by IRDAI in year 2014-15
...................
156
5.
...................
161
6.
...................
162
7.
...................
164
8.
...................
167
9.
...................
172
10.
...................
175
xii
MISSION STATEMENT
To protect the interest of and secure fair treatment to policyholders;
To bring about speedy and orderly growth of the insurance industry (including annuity
and superannuation payments), for the benefit of the common man, and to provide long
term funds for accelerating growth of the economy;
To set, promote, monitor and enforce high standards of integrity, financial soundness,
fair dealing and competence of those it regulates;
To ensure speedy settlement of genuine claims, to prevent insurance frauds and other
malpractices and put in place effective grievance redressal machinery;
To promote fairness, transparency and orderly conduct in financial markets dealing with
insurance and build a reliable management information system to enforce high
standards of financial soundness amongst market players;
To take action where such standards are inadequate or ineffectively enforced;
To bring about optimum amount of self-regulation in day-to-day working of the industry
consistent with the requirements of prudential regulation.
T S Vijayan
CHAIRMAN
R. K. Nair
M. Ramaprasad
D D Singh
Pournima Gupte
(from 13th January, 2015)
xv
Prof V K Gupta
Anup Wadhawan
S B Mathur
CA K Raghu
CA Manoj Fadnis
xvi
EXECUTIVE DIRECTOR
SRIRAM TARANIKANTI
FINANCIAL ADVISER
LALIT KUMAR
M PULLA RAO
SURESH MATHUR
RANDIP SINGH JAGPAL
A R NITHIANANTHAM
MAMTA SURI
J MEENA KUMARI
JOINT DIRECTORS:
MUKESH SHARMA
S N JAYASIMHAN
YEGNA PRIYA BHARATH
H ANANTHA KRISHNAN
V JAYANTH KUMAR
RAMANA RAO ADDANKI
RAKESH K BAJAJ
SANJEEV KUMAR JAIN
T S NAIK
S P CHAKRABORTY
P K MAITI
RAJ KUMAR SHARMA
A V RAO
xvii
PART - I
POLICIES AND PROGRAMMES
I.1 GENERAL ECONOMIC ENVIRONMENT
TABLE I.1
NATIONAL INCOME#
Item
2012-13 (NS)
2013-14 (NS)
2014-15 (PE)
1.1 GNI
9172925
9800813
10513163
1.2 NNI
8193427
8751834
9388992
8599224
9169787 (6.6)
9827089 (7.2)
2.2 GDP
9280803
9921106 (6.9)
10643983 (7.3)
2.3 NDP
8301305
8872127 (6.9)
9519811 (7.3)
1235
1251 (1.3)
1267 (1.3)
66344
69959 (5.4)
74104 (5.9)
75148
79305 (5.5)
84009 (5.9)
A)
1.
2.
B)
TABLE I.2
SECTOR WISE GROWTH OF NATIONAL INCOME
Industry
2012-13 (NS)
2013-14 (NS)
2014-15 (PE)
(` crore)
Percentage change
over previous year
2013-14
2014-15
1,523,470
1,579,290
1,582,851
3.7
0.2
262,253
276,380
283,062
5.4
2.4
1,574,471
1,658,176
1,776,469
5.3
7.1
202,224
211,846
228,579
4.8
7.9
5. Construction
740,518
758,887
795,066
2.5
4.8
Industry (2+3+4+5)
2,779,466
2,905,289
3,083,176
4.53
6.12
1,548,739
1,720,513
1,904,200
11.1
10.7
1,675,405
1,807,338
2,015,912
7.9
11.5
1,072,144
1,157,357
1,240,950
7.9
7.2
Service (6+7+8)
4,296,288
4,685,208
5,161,062
9.05
10.16
8,599,224
9,169,787
9,827,089
6.64
7.17
60.00
50.00
40.00
30.00
20.00
10.00
0.00
2012-13 (NS)
2013-14 (NS)
2014-15 (PE)
2. Industry
3. Service
1. Agriculture
2011-12
2012-13
2013-14
33.0
31.1
30.0
9.7
9.6
10.3
1.4
1.2
1.0
8.3
8.4
9.3
2.9
3.1
2.8
1.8
1.7
1.5
1.1
1.4
1.3
-1.8
-1.3
-1.0
22.2
19.7
17.8
7.1
6.8*
7.1*
14.8
12.6
10.4
0.4
0.4
0.3
Gross Savings
1.1 Non-financial Corporations
Note: Net financial saving of the household sector is obtained as the difference between change in financial assets and
change in financial liabilities.
Source: Central Statistics Office.
* : As per Reserve Banks latest estimates, household financial saving for 2012-13 and 2013-14 are 7.0 per cent and 7.3 per
cent, respectively, of GNDI.
TABLE I.4
TOTAL REAL PREMIUM GROWTH RATE IN 2014
Regions/Countries
Advanced countries
Emerging markets
Asia
India
World
Life
3.8
6.9
6.1
1.0
4.3
Total
2.9
7.4
6.5
1.8
3.7
TABLE I.5
REGION WISE LIFE AND NON-LIFE INSURANCE PREMIUM
(Premium In USD Billions)
Region/Country
Advanced economies
Life
Non-Life
Total
2232.524
1706.79
3939.31
(56.67)
(43.33)
(100.00)
422.03
416.91
838.94
(50.30)
(49.70)
(100.00)
892.32
425.25
1317.57
(67.72)
(32.28)
(100.00)
55.30
14.59
69.89
(79.12)
(20.88)
(100.00)
2654.55
2123.70
4778.25
(55.55)
(44.45)
(100.00)
Emerging markets
Asia
India
World
Source: Swiss Re, Sigma 4/2015.
Figures in brackets indicate share of the segment in per cent.
8
Non-Life
10
12
Life
Total
14
16
18
1000
2000
3000
4000
5000
Non-Life
6000
Life
7000
8000
Total
TABLE I. 6
INSURANCE PENETRATION AND DENSITY IN INDIA
Life
Industry
Non-Life
Year
Density
(USD)
Penetration
(percentage)
Density
(USD)
2001
9.1
2.15
2.4
0.56
11.5
2.71
2002
11.7
2.59
0.67
14.7
3.26
2003
12.9
2.26
3.5
0.62
16.4
2.88
2004
15.7
2.53
0.64
19.7
3.17
2005
18.3
2.53
4.4
0.61
22.7
3.14
2006
33.2
4.1
5.2
0.6
38.4
4.8
2007
40.4
6.2
0.6
46.6
4.7
2008
41.2
6.2
0.6
47.4
4.6
2009
47.7
4.6
6.7
0.6
54.3
5.2
2010
55.7
4.4
8.7
0.71
64.4
5.1
2011
49
3.4
10
0.7
59
4.1
2012
42.7
3.17
10.5
0.78
53.2
3.96
2013
41
3.1
11
0.8
52
3.9
2014
44
2.6
11
0.7
55
3.3
Note:
Penetration
(percentage)
Density
(USD)
Penetration
(percentage)
70
60
50
In US$
3
2
40
30
Life
Non-Life
Life
Total
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
10
2002
2001
20
2001
In per cent
Total
Non-Life
TABLE I.7
REGISTERED INSURERS IN INDIA
(As on 31st March, 2015)
Type of business
Public
Sector
Private
Sector
Total
23
24
*6
**22
28
Reinsurance
Total
45
53
Life Insurance
Non-life Insurance
LIFE INSURANCE
Premium
TABLE I.8
PREMIUM UNDERWRITTEN : LIFE INSURERS
(` crore)
Insurer
2013-14
2014-15
Regular Premium (1)
LIC
31904.49
23112.20
(5.25)
(-27.56)
Private Sector
20497.51
23940.13
(-4.83)
(16.79)
Total
52402.00
47052.33
(1.03)
(-10.21)
Single Premium (2)
LIC
58904.30
55395.51
(27.23)
(-5.96)
Private Sector
9018.92
10880.10
(-2.08)
(20.64)
Total
67923.22
66275.61
(22.50)
(-2.43)
First Year Premium (3 =(1+2))
LIC
90808.79
78507.71
(18.53)
(-13.55)
Private Sector
29516.43
34820.23
(-4.01)
(17.97)
Total
120325.22
113327.94
(12.08)
(-5.82)
Renewal Premium (4)
LIC
146133.51
161159.94
(10.55)
(10.28)
Private Sector
47842.93
53613.26
(0.38)
(12.06)
Total
193976.44
214773.20
(7.85)
(10.72)
` crore
120000
Private Sector
Total
236942.30
(13.48)
(1.15)
88433.49
(-1.33)
(14.32)
314301.66
328101.14
(9.44)
(4.39)
60000
20000
LIC
PRIVATE
2013-14
TOTAL
2014-15
` crore
250000
200000
150000
100000
50000
0
LIC
PRIVATE
2013-14
TOTAL
2014-15
239667.65
77359.36
80000
40000
100000
TABLE I. 9
MARKET SHARE : LIFE INSURERS
Insurer
2013-14
2014-15
60.88
49.12
Market Share
Private Sector
39.12
50.88
Total
100.00
100.00
86.72
83.58
Private Sector
13.28
16.42
100.00
100.00
Total
LIC
75.47
69.27
Private Sector
24.53
30.73
100.00
100.00
Total
350000
` crore
300000
250000
LIC
75.34
75.04
200000
Private Sector
24.66
24.96
100.00
100.00
150000
Total
100000
50000
0
2010-11
LIC
2011-12
2012-13
Private
2013-14
2014-15
Industry
LIC
75.39
73.05
Private Sector
24.61
26.95
100.00
100.00
Total
10
1
New Policies
TABLE I.11
PAID UP CAPITAL* : LIFE INSURERS
(` crore)
LIC
Private Sector
Total
345.12
201.71
(-6.17)
(-41.55)
63.60
57.37
(-14.11)
(-9.79)
408.72
259.08
(-7.50)
(-36.61)
100.00
0.00
100.00
305.63
26144.14
TOTAL
305.63
26244.14
25938.51
(` lakh)
2014-15
As at 31st
March
2015
TABLE I.10
NEW POLICIES ISSUED: LIFE INSURERS
2013-14
Additions
during
2014-15
LIC
Insurer
As at 31st
March
2014
Insurer
Paid-up capital
I.3.12 The total capital of the life insurance
companies as on 31st March, 2015 was R26244.14
crore. During 2014-15, an additional capital of
R305.63 crore was brought into the industry by the
private sector insurers (Table I.11).
11
TABLE I.13
COMMISSION EXPENSE RATIO : LIFE INSURERS
(In percent)
TABLE I.12
COMMISSION EXPENSES : LIFE INSURERS
(` crore)
Insurer
2013-14
Insurer
Regular (1)
8458.94
6293.44
Private Sector
3040.05
3003.18
11498.99
9296.62
Total
Private Sector
Total
297.33
264.37
42.65
40.20
339.98
304.57
8756.26
6557.81
Private Sector
3082.70
3043.38
11838.96
9601.19
Total
8006.62
8560.33
Private Sector
1000.79
1299.16
Total
9007.41
9859.49
Private Sector
Total
16762.88
15118.14
4083.49
4342.54
20846.37
19460.68
Private Sector
14.83
12.54
Total
21.94
19.76
LIC
0.50
0.48
Private Sector
0.47
0.37
Total
0.50
0.46
LIC
Total
9.64
8.35
10.44
8.74
9.84
8.47
Renewal (4)
LIC
5.48
5.31
Private Sector
2.09
2.42
Total
4.64
4.59
Total (5 =(3+4)=(1+2+4)
Total (5 =(3+4)=(1+2+4))
LIC
27.23
Private Sector
Renewal (4)
LIC
26.51
LIC
2014-15
Regular (1)
2014-15
LIC
2013-14
LIC
7.07
6.31
Private Sector
5.28
4.91
Total
6.63
5.93
TABLE I.14
OPERATING EXPENSES : LIFE INSURERS
(` crore)
INSURER
LIC
2013-14
2014-15
Growth over
previous
year (%)
23760.70 22395.45
-5.75
5.56
TOTAL
37465.41 36861.59
-1.61
TABLE I.15
OPERATING EXPENSES RATIO : LIFE INSURERS
INSURER
2013-14
2014-15
LIC
10.03
9.34
Private Sector
17.72
16.36
TOTAL
11.92
11.23
Benefits Paid
I.3.18 The life industry paid benefits of R211180.27
crore in 2014-15 (R216395.63 crore in 2013-14)
constituting 64.36 per cent of the gross premium
underwritten (68.85 per cent in 2013-14). The
benefits paid by the private insurers stood at
R67054.52 crore (R58380.09 crore in 2013-14)
constituting 75.82 per cent of the premium
underwritten (75.47 per cent in 2013-14). LIC paid
benefits of R144125.75 crore in 2014-15,
constituting 60.14 per cent of the premium
underwritten (R158015.54 crore in 2013-14, 66.69
per cent of the premium underwritten).The benefits
paid on account of surrenders / withdrawals stood
at R99700.76 crore, of which LIC accounted for
R46537.61crore and private sector R53163.15
crore. The comparative previous year statistics
were R106921.11 crore, of which LIC accounted
for R59626.83 crore and private sector paid
R47294.28 crore. In the current year, in case of
LIC, out of the R46537.61crore surrenders, ULIP
TABLE I.16
INDIVIDUAL DEATH CLAIMS OF LIFE INSURERS DURING 2014-15
(Figures in percent of Policies)
Claims
Claims
Claims
written
Paid repudiated /
back
rejected
Claims
pending
at end
of year
Life Insurer
Total
Claims
Private Total
100.00
89.40
7.78
0.02
2.80
76.42
7.89
4.28
11.41
LIC
100.00
98.19
1.15
0.17
0.48
18.59
19.80
31.52
30.09
Industry Total
100.00
96.97
2.08
0.15
0.80
46.51
14.05
18.37
21.07
TABLE I.17
GROUP DEATH CLAIMS OF LIFE INSURERS DURING 2014-15
(Figures in percent of lives covered)
Claims
Claims
Paid repudiated
Claims
written
back
Claims
pending
at end
of year
Life Insurer
Total
Claims
Private Total
100.00
91.20
1.80
0.00
7.00
6.89
0.47
0.26
92.39
LIC
100.00
99.64
0.04
0.00
0.32
67.34
24.63
1.13
6.89
Industry Total
100.00
96.15
0.76
0.00
3.08
10.61
1.95
0.31
87.13
<3
mths
3-<6 6-<1
mths
yr
>1
yr
14
Retention Ratio
Per Cent
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Duration
Private Total
LIC
Industry Total
Per Cent
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
< 3 months
3 to 6 months
Duration
Private Total
LIC
Industry Total
Returns to Shareholders
I.3.29 For the year 2014-15, LIC paid R1803 crore
(R1,634 crore in 2013-14) as dividends to
shareholder i.e. Government of India. Seven
private life insurers paid dividends during the
financial year. HDFC Standard Life paid R139.64
crore (R99.74 crore in 2013-14), ICICI Prudential
paid R836.83 crore (R1093.29 crore in 2013-14),
Max Life paid R199.63 crore (R264.48 crore in
2013-14), Reliance Life paid R95.71 crore
(R95.71crore in 2013-14), Sahara India paid
R23.20 crore (Previous Year - Nil), SBI Life paid
Investment income
I.3.25 As the operations of the life insurers
stabilize, their investment base gets strengthened,
resulting in investment income forming a larger
proportion of their total income. In the case of LIC,
the investment income including capital gains was
R168063.58 crore (R143244.37crore in
2013-14).In the case of private insurance industry,
the investment income including capital gains was
at R78701.54 crore in 2014-15 (R41819.68 crore in
2013-14).
15
TABLE I.18
DIVIDENDS PAID BY LIFE INSURERS
(` crore)
Insurer
2013-14
2014-15
LIC
1634
1803
Private Sector*
1723
1434
Total
3357
3237
Expansion of Offices
I.3.30 The decreasing trend of number of life
insurance offices (which had continued until
2012-13) had reverted from 2013-14 and there is a
marginal increase in 2014-15 at 11033 from 11032
of the previous year.
I.3.31 It is observed that majority of offices of life
insurers are located in towns which are not listed in
HRA classifications of the Ministry of Finance.
Around 67% of life insurance offices are located in
these small towns. This fact remains similar for
TABLE I.19
NUMBER OF LIFE OFFICES *
(As on 31st March 2015)
Insurer
2007
2008
2009
2010
2011
2012
2013
2014
2015
Private
3072
6391
8785
8768
8175
7712
6759
6193
6156
LICI
2301
2522
3030
3250
3371
3455
3526
4839
4877
Industry
5373
8913
11815
12018
11546
11167
10285
11032
11033
16
TABLE I.20
DISTRIBUTION OF OFFICES* OF
LIFE INSURERS
(As on 31st March 2015)
11.5%
Insurer
Metro
Urban
Others
Total
Private ##
705
1867
3584
6156
LICI #
378
622
3877
4877
1083
2489
7461
11033
Industry
30.3%
58.2%
Metro
Urban
Others
Urban
7.8%
## Does not includes two offices which are located outside India.
12.8%
79.5%
CHART I.11
NUMBER OF LIFE INSURANCE OFFICES
Metro
14000
Urban
Others
12000
10000
8000
6000
9.8%
4000
2000
22.6%
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
67.6%
LICI
Private
Industry
Metro
17
Urban
Others
NON-LIFE INSURANCE
TABLE I.21
GROSS DIRECT PREMIUM INCOME IN INDIA:
NON-LIFE INSURERS
st
Insurer
Public Sector Insurer
Premium:
I.3.34 The non-life insurance industry underwrote
total premium of R84684 crore in India for the year
2014-15 as against R77554 crore in 2013-14,
registering a growth of 9.19 per cent as against an
increase of 12.13 per cent recorded in the previous
year. The public sector insurers exhibited growth
in 2014-15 at 10.23 per cent; over the previous
years growth rate of 10.21 per per cent. The
private general insurers registered growth of 9.62
per cent, which is lower than 14.52 per cent
achieved during the previous year.
Specialised Insurer
Total
80000
(` Crore)
70000
60000
50000
40000
30000
20000
10000
0
2013-14
Standalone Specialised
Health
38599.71
42549.48
(10.21)
(10.23)
32010.30
35090.09
(14.52)
(9.62)
2245.05
2942.61
(30.06)
(31.07)
4698.74
4102.10
(5.48)
(-12.7)
77553.80
84684.28
(12.15)
(9.19)
90000
Private
Sector
(` Crore)
2014-15
Public
Sector
2013-14
Industry
2014 -15
18
TABLE I.22
GROSS DIRECT PREMIUM INCOME IN INDIA :
NON-LIFE INSURERS - COMPANY - WISE
(` Lakh)
TOTAL
PREMIUM
1022288 1124189
13.18
13.28
NEW INDIA
1154006 1320939
14.88
15.60
ORIENTAL
712785
740794
9.19
8.75
UNITED
970893 1069026
12.52
12.62
3859972 4254948
49.77
50.24
Sub-Total
Private Sector Insurers
ROYAL SUNDARAM
143704
156920
1.85
1.85
RELIANCE
238882
271584
3.08
3.21
IFFCO-TOKIO
293092
332997
3.78
3.93
TATA AIG
236271
271414
3.05
3.21
ICICI LOMBARD
685616
667780
8.84
7.89
BAJAJ ALLIANZ
451645
522985
5.82
6.18
CHOLAMANDALAM
185511
189043
2.39
2.23
HDFC ERGO
290699
318221
3.75
3.76
FUTURE GENERALI
126256
143825
1.63
1.70
UNIVERSAL SOMPO
54045
70111
0.70
0.83
SHRIRAM
151059
149652
1.95
1.77
BHARTI AXA
142316
145707
1.84
1.72
2324
2163
0.03
0.03
118757
157690
1.53
1.86
RAHEJA QBE
(` Crore)
MARKET
SHARE(%)
SBI
L&T
25378
33171
0.33
0.39
MAGMA HDI
42493
47360
0.55
0.56
12982
28386
0.17
0.34
3201030 3509009
41.27
41.44
90000
LIBERTY VIDEOCON
80000
Sub-Total
70000
60000
APOLLO MUNICH
50000
CIGNA TTK
69247
80313
0.89
0.95
34
2183
0.00
0.03
40000
MAX BUPA
30885
37266
0.40
0.44
30000
RELIGARE
15231
27580
0.20
0.33
20000
STAR HEALTH
109108
146919
1.41
1.73
Sub-Total
224505
294261
2.89
3.47
130373
136240
1.68
1.61
10000
0
Specialised Insurers
2010-11
2011-12
Public
Standalone Health
2012-13
2013-14
2014-15
ECGC
Private
Specialised
Industry
AIC
339501
273970
4.38
3.24
Sub-Total
469874
410210
6.06
4.84
7755381 8468428
100.00
100.00
Grand Total
19
(` crore)
Department
Fire
2013-14
2014-15
7363
8057
(9.49)
(9.51)
3162
3020
(4.08)
(3.57)
33823
37379
(43.61)
(44.14)
19634
22636
(25.32)
(26.73)
13572
13592
(17.50)
(16.05)
77554
84684
Motor
Health
Others
Total Premium
2013 -14
9%
18%
2014 -15
10% 4%
4%
16%
25%
27%
44%
Fire
44%
Marine
Motor
20
Health
Others
TABLE I.25
GRASS DIRECT PREMIUM
FROM BUSINESS OUTSIDE INDIA :
NON-LIFE INSURERS
(` lakh)
Insurer
2013-14
2014-15
National
3810
4073
(31.87)
(6.90)
218755
227095
(19.18)
(3.81)
15470
15398
-(16.50)
-(0.47)
0.00
0.00
238035
246566
New India
Oriental
United
Total
TABLE I.24
RATIO OF OUTSIDE INDIA PREMIUM
TO TOTAL PREMIUM
2013-14
2014-15
National
0.37
0.36
15.94
14.67
Oriental
2.12
2.04
United
0.00
0.00
New India
TABLE 1.26
NUMBER OF NEW POLICIES ISSUED :
NON-LIFE INSURERS*
TABLE I.27
PAID UP CAPITAL :
NON-LIFE INSURERS AND REINSURER*
(` lakh)
Insurer
(` Crore)
2013-14
2014-15
600.06
677.82
Non -Life
Public Sector
(-12.99)
(12.95)
Private Sector
424.47
Total
Insurer
2013-14
2014-15
Public Sector
600
650
504.97
Private Sector
6226
6972
(11.54)
(18.96)
Specialized Institutions
1024.52
1182.79
1100
1200
(-4.27)
(15.44)
200
200
Star Health
334
362
Apollo MUNICH
331
349
Max BUPA
669
791
Religare Health
250
350
Cigna TTK
100
200
430
430
10240
11504
ECGC
AIC
Standalone Health Insurers
Paid-up Capital
I.3.42 The total paid-up capital of non-life insurers
as on 31st March, 2014 was R10240 crore. During
2014-15, the non-life insurers added R1264 crore
to their equity capital base. Public sector insurers
infused a further capital of R50 crore whereas
specialized institution ECGC infused a further
capital of R100 crore. Private sector insurers
infused further capital to the extent of R746 crore.
Standalone health insurers infused a capital of
R368 crore including R100 crore capital infused by
Cigna TTK Health Insurance company.
Reinsurer
GIC
Total
Underwriting Experience
I.3.43 The underwriting losses of the non-life
insurance companies increased to R10127 crore in
2014-15, from R7641 crore in the previous year.
The underwriting losses increased by 32.54
percent over previous year. The public sector
insurers losses increased by 22.57 percent to
R6592 crore in 2014-15 from R5379 crore in
2013-14. The private sector insurers losses
increased to R2495 crore in 2014-15 from R1810
crore in 2013-14. The underwriting losses of
standalone health insurer increased to R611 crore
22
TABLE I.28
UNDERWRITING EXPERIENCE :
NON-LIFE INSURERS
(` Crore)
2013-14
2014-15
-5378.66
-6592.47
(-16.09)
(-17.14)
-1810.19
-2495.42
(-8.06)
(-10.23)
-546.96
-611.00
(-35.56)
(-28.43)
95.01
-428.44
(3.63)
(-16.77)
-7640.81 -10127.32
Total
(-12.72)
(-14.99)
TABLE I.29
COMMISSION EXPENSES : NON LIFE INSURERS
Department
Private Sector
Insurer
Public Sector
Insurer
Standalone
Health Insurer
2014-15
2013-14
2014-15
169.27
192.14
494.66
568.04
0.00
0.00
0.00
Marine
89.58
99.16
179.66
169.37
0.00
0.00
Motor
743.11
716.53
886.24
870.95
0.00
Health
370.06
526.02
790.50 1000.52
Others
271.63
226.87
518.66
1643.65
1760.72
Total
2014-15
0.00
663.93
760.18
0.00
0.00
269.24
268.53
0.00
0.00
0.00
1629.35 1587.48
845.80 1027.49
0.00
0.00
2006.36 2554.03
0.00
37.10
34.19
2869.72 3105.11
845.80 1027.49
37.10
34.19
0.00
2013-14
Total
2013-14
496.23
2014-15
Specialised
Insurer
2013-14
Fire
2013-14
(` Crore)
2014-15
827.39
757.29
5396.27 5927.51
TABLE I.30
OPERATING EXPENSES : NON-LIFE INSURERS
(` Crore)
Insurer
Public Sector Insurer
Private Sector Insurer
Standalone Health Insurer
Specialised Insurer
Total
23
2013-14
8791
6312
928
220
16251
2014-15
11181
7527
1224
274
20206
TABLE I.31
NET INCURRED CLAIMS : NON-LIFE INSURERS
(` Crore)
Insurer
Public Sector Insurers
Grand Total
2013-14
2014-15
27817.96
31567.75
(11.00)
(13.48)
17874.11
19430.46
(22.74)
(8.71)
1016.03
1336.62
(50.93)
(31.55)
2470.52
2897.21
(9.44)
(17.27)
49178.62
55232.04
(15.57)
(12.31)
24
TABLE I.32
INCURRED CLAIMS RATIO : NON-LIFE INSURERS
Public Sector
Insurer
Department
Private Sector
Insurer
Standalone
Health Insurer
2013-14
Specialised
Insurer
2013-14
2014-15
2013-14
2014-15
Fire
80.39
75.21
55.45
66.19
76.54
73.78
Marine
59.30
57.80
71.24
87.38
63.37
67.44
Motor
77.51
72.38
81.40
81.91
79.50
77.14
Health
106.19
109.97
87.62
79.17
66.06
62.18
97.05
96.93
Others
64.55
55.97
63.00
60.61
96.69
110.68
72.96
73.91
Total
83.20
82.09
79.58
79.69
66.06
62.18
96.69
110.68
81.98
81.70
2013-14
2014-15
Public Sector
9394.29
10725.02
(9.08)
(14.17)
3979.64
4931.01
(32.09)
(23.91)
132.29
178.56
(41.74)
(34.98)
812.69
932.75
(15.00)
(14.77)
14319
16767
(15.24)
(17.10)
Private Sector
Standalone Health Insurers
Specialised Insurers
Grand Total
2013-14
2014-15
2013-14
2014-15
TABLE I.33
INVESTMENT INCOME : NON-LIFE INSURERS
(` Crore)
Insurers
2014-15
Total
25
2013-14
2014-15
Returns to Shareholders
Non -Life
Public sector
599
665
Private Sector
77
211
88
48
20
GIC
449
540
Total
1213
1484
TABLE I.34
NET PROFIT/LOSSES : NON-LIFE INSURERS
(` Lakh)
Insurer
2013-14
2014-15
Public Sector
289976
309399
Private Sector
153914
164351
-40310
-44651
61326
34814
464906
463913
Specialised Insurer
Total
TABLE I.36
NUMBER OF NON LIFE INSURANCE OFFICES
(As on 31st March)
Insurer
Public Sector *
Private Sector
Total
2014
7,869
2,003
9,872
26
2015
8207
2200
10407
TABLE I.37
NUMBER OF NON-LIFE OFFICES - TIER WISE
Non Life Insurers
Year
Tier I
Tier II
Tier III
Tier IV
Tier V
Tier VI
Total
Public Sector
2014
3747
1361
1257
1298
80
43
7786
2015
3866
1282
1517
1233
170
52
8120
2014
1337
124
147
1608
2015
1706
28
1742
2014
394
395
2015
255
203
458
2014
82
83
2015
87
87
2014
5560
1487
1404
1298
80
43
9872
2015
5914
1513
1523
1235
170
52
10407
Private Sector
Standalone Health
Specialised Insurers
Total
0%
12%
15%
57%
15%
SPECIALISED INSURERS
Tier I
Tier II
Tier III
Tier IV
Tier V
Tier VI
th
31
33
Life Insurers
I.4.2.4 At the end of March 2015, 23 Life insurers
complied with the stipulated solvency ratio of 1.5.
The information from Shahara Life is awaited.
TABLE I. 38 NET RETENTIONS (GIC) 2014-15
Line of Business
Domestic
Business %
Foreign
Business %
Fire
67.9
92.6
Marine Cargo
84.3
100.0
Marine Hull
68.9
88.7
Engineering
79.9
100.0
Aviation
88.8
85.2
Motor
100.0
100.0
Misc
93.3
100.0
Life
74.3
84.7
Total
88.8
94.5
38
S.No
Per risk
Capacity
( ` In crore)
2015-16
Share
(in Percent)
Per risk
Capacity
( ` In crore)
Share
(in Percent)
237.615
15.841
237.615
15.841
178.215
11.881
178.215
11.881
237.615
15.841
237.615
15.841
178.215
11.881
178.215
11.881
188.865
12.591
188.865
12.591
74.640
4.976
74.640
4.976
15.105
1.007
15.105
1.007
29.505
1.967
29.505
1.967
15.000
1.000
15.000
1.000
10
15.000
1.000
15.000
1.000
11
15.105
1.007
15.105
1.007
12
118.815
7.921
118.815
7.921
13
59.400
3.960
59.400
3.960
14
15.105
1.007
15.105
1.007
15
15.105
1.007
15.105
1.007
16
7.500
0.500
7.500
0.500
17
0.750
0.050
0.750
0.050
18
29.700
1.980
29.700
1.980
19
15.000
1.000
15.000
1.000
20
4.995
0.333
4.995
0.333
21
15.000
1.000
15.000
1.000
22
23.760
1.584
23.760
1.584
23
9.990
0.666
9.990
0.666
1,500.000
100.000
1,500.000
100.000
Total
Note: - The share of Members for 2015-16 continues to remain the same as in the expiring year i.e. 2014-15.
39
TABLE I.40
REINSURANCE CEDED OUTSIDE INDIA
ON INDIAN BUSINESS (Excluding GIC)
TABLE I. 41
REINSURANCE PLACED WITHIN INDIA
AND OUTSIDE INDIA AS PER CENT OF GROSS
DIRECT PREMIUM IN INDIA (Excluding GIC)
(` crore)
2013-14
Class
Premium
Ceded
Fire
1,692.74
Marine Cargo
299.88
Marine Hull
534.60
Motor
55.67
Aviation
301.73
Engineering
590.55
Other
2,822.46
Miscellaneous
Total
6,297.62
2014-15
Net
Premium
Profit
Ceded
Ceded
2013-14
Net
Profit
Ceded
Placed
Placed
Placed In
Placed In
Outside
Outside
India
India
India
India
Class
Fire
Marine Cargo
Marine Hull
Motor
Aviation
Engineering
Other
Miscellaneous
Total
2014-15
31.07
12.21
32.78
9.12
48.68
32.01
12.90
24.64
14.99
49.68
0.22
68.56
24.45
10.08
29.86
9.34
21.89
8.35
36.95
27.24
12.14
28.98
16.90
59.70
0.20
57.86
27.30
11.09
14.14%
8.82%
12.76%
9.31%
TABLE I. 42
NET RETAINED PREMIUM ON INDIAN BUSINESS
AS PER CENT OF GROSS DIRECT PREMIUM (Excluding GIC)
(In per cent)
2014-15
2013-14
Class
Fire
Marine Cargo
Marine Hull
Motor
Engineering
Aviation
Other Misc
Total
Public
Sector
Private
Sector
66.13
83.29
24.11
93.46
66.89
-11.52
83.88
82.38
35.35
64.49
7.22
90.06
25.59
52.16
70.3
76.28
Total
55.02
74.66
22.63
91.72
54.61
0.04
79.08
79.83
Public
Sector
63.76
84.12
26.15
95.30
69.24
10.45
86.23
84.74
Private
Sector
31.31
65.41
8.71
89.17
26.62
50.77
68.16
75.24
Total
50.94
75.44
24.53
92.04
55.73
18.25
78.60
80.34
1. T h e A u t h o r i t y v i d e i t s o r d e r n o .
rd
IRDA/NL/ORD/MPL/277/12/2011 dated 23
December 2011 created a declined risk pool for
Liability only commercial vehicle third party
st
insurance with effect from 1 April 2012.
40
TABLE I.43
NET RETENTIONS OF NON LIFE INSURERS
AS PER CENT OF GROSS DIRECT PREMIUM
(INCLUDING GIC)
7. T h e A u t h o r i t y v i d e i t s o r d e r n o
th
IRDA/NL/ORD/MPL/251/11/2014 dated 27
November 2014 declared the Ultimate Loss
2013-14
2014-15
Fire
69.24
64.54
Marine Cargo
85.99
81.59
Marine Hull
31.94
35.47
Motor
100.0
99.67
Engineering
71.07
71.80
1.00
38.91
Other Misc
89.43
88.14
Total
90.32
89.57
Aviation
TABLE I.44
PREMIUM UNDER DECLINED RISK POOL
FOR THE YEAR 2014-15
Premium Ceded to
DR Pool (75 %) ( ` crore)
Public Sector
288.31
Private Sector
29.09
TOTAL
317.40
TABLE I.45
TOTAL INVESTMENTS OF THE INSURANCE SECTOR
(As on 31st March)
( ` crore)
Life
Total
Non-Life
INSURER
Public
Private
Total
2014
2015
2014
2015
2014
2015
1574296
1786312
93785
103561
1668081
1889873
(12.21)
(13.37)
(12.12)
(10.42)
(12.21)
(13.30)
383169
461210
46025
57153
429194
518363
(12.07)
(20.37)
(16.97)
(24.18)
(12.58)
(20.78)
1957466
(12.18)
2247522
(14.82)
139809
(13.67)
160714
(14.95)
2097275
(12.28)
2408236
(14.83)
Note: Figures in brackets represent growth in percentage over the previous year
42
TABLE I.46
TOTAL INVESTMENTS OF LIFE INSURERS : INSTRUMENT-WISE
(As on 31st March)
(` crore)
2014
Investments From
Amount
2015
Percentage
Amount
Percentage
Traditional Products
1 Central Govt. Securities
604651
37.19
722955
38.36
333951
20.54
430554
22.84
155026
9.54
174512
9.26
503059
30.94
530568
28.15
5 Other Investments
29118
1.79
26193
1.39
A Total (1+2+3+4+5)
1625804
100.00
1884782
100.00
322456
97.22
352371
97.14
9205
2.78
10369
2.86
331661
100.00
362740
100.00
Approved Investments
ULIP Funds
6 Approved Investments
7 Other Investments
B Total (6+7)
Grand Total (A+B)
1957466
2247522
TABLE I.47
INVESTMENTS OF LIFE INSURERS : FUND-WISE
(As on 31st March)
Life Fund
Insurer
2014
LIC
Private
Total
2015
1181000 1359829
107225
135480
1288225 1495309
(65.81)
(66.53)
Pension and
General Annuity &
Group Fund
2014
2015
298818 343812
38761
(` crore)
2015
94479
82671
2015
1574296 1786312
45660
237183 280069
337579 389472
331661 362740
1957466 2247522
(17.25) (17.33)
(16.94)
(100.00)
(16.14)
383169
461210
(100.00)
TABLE I.48
GROWTH OF INVESTMENTS: FUND-WISE
(As on 31st March)
(` crore)
2014
Fund
Life
Pension & General Annuity & Group Fund
Traditional (A)
Unit Linked Funds (B)
Total (A+B)
2015
Total
Growth in %
1288225
15.02
1495309
16.08
337579
19.55
389743
15.37
1625804
15.93
1884782
15.93
331661
-3.17
362740
9.37
1957466
12.18
2247522
14.82
Total
Growth in %
TABLE I.49
TOTAL INVESTMENTS OF NON-LIFE INSURERS : INSTRUMENT-WISE
(As on 31st March)
(` crore)
2014
Pattern of Investments
Total
2015
% to Fund
Total
% to Fund
35877
25.66
42904
26.70
14326
10.25
17120
10.65
12742
9.11
14834
9.23
Infrastructure Investments
24544
17.56
27277
16.97
Approved Investments
49264
35.24
53734
33.43
3056
2.19
4845
3.01
139809
100.00
160714
100.00
Other Investments
Total
Note :
1. Investments of CHNB , ECGC and AIC of India have not been included
2. FFE : Fire Fighting Equipment
44
(Premium in ` crore)
20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
2010-11
2011-12
2012-13
2013-14
2014-15
TABLE I.50 TREND IN HEALTH INSURANCE PREMIUM OVER THE PAST FIVE YEARS
(` crore)(% age of market share)
Market share
2010-11
2011-12
2012-13
2013-14
2014-15
6689
8015
9580
10841
12882
(61%)
(61%)
(62%)
(62%)
(64%)
2850
3445
4205
4482
4386
(26%)
(27%)
(27%)
(26%)
(22%)
1492
1609
1668
2172
2828
(13%)
(12%)
(11%)
(12%)
(14%)
11,031
13,070
15,453
17,495
20,096
Note: Figures in the bracket indicates the market-share of various sectors in total HI Premium.
2010-11
2011-12
2012-13
2013-14
2014-15
2198
2225
2347
2082
2425
(20%)
(17%)
(15%)
(12%)
(12%)
4952
5948
7186
8058
8899
(45%)
(46%)
(47%)
(46%)
(44%)
3881
4897
5919
7355
8772
(35%)
(37%)
(38%)
(42%)
(44%)
11031
13070
15453
17495
20096
Note: Figures in bracket indicates the share of each class of business in total health insurance premium.
2010 - 11
Individual
35%
2011 - 12
2012 - 13
Government
15%
Government
17%
Government
20%
Individual
37%
Individual
38%
Group HI
47%
Group HI
46%
Group HI
45%
2013 - 14
2014 - 15
Government
12%
Government
12%
Individual
42%
Individual
44%
Group (other
than Govt.)
44%
Group HI
46%
46
2010 - 11
2011 - 12
2012 - 13
Individual
10%
Individual
16%
Individual
11%
Group HI
14%
Group HI
9%
Government
75%
Group HI
17%
Government
72%
Government
76%
2013 - 14
2014 - 15
Individual
9%
Individual
13%
Group HI
17%
Group HI
15%
Government
74%
Government
72%
47
2010-11
2011-12
2012-13
2013-14
2014-15
1891
1612
1494
1553
2143
226
300
343
337
483
Individual
418
206
236
272
254
2535
2118
2073
2162
2880
Government
Total
2011-12 2012-13
2013-14
2014-15
Government
90%
87%
93%
108%
Group (other
than Govt.)
100%
104%
110%
116%
Individual
85%
83%
83%
81%
Total
94%
94%
97%
101%
48
2011-12
2012-13
2013-14
2014-15
1578
1265
753
764
456
698
972
2437
18
21
21
30
2052
1984
1746
3231
(in ` crore)
2011-12
2012-13
2013-14
2014-15
682
650
614
708
(49%)
(41%)
(36%)
(33%)
672
918
1,060
1351
(49%)
(57%)
(61%)
(63%)
34
39
55
94
(2%)
(2%)
(3%)
(4%)
1,388
1,609
1,729
2153
Note: Figures in Bracket indicates the share of each sector in total PA business
(in ` crore)
2011-12
2012-13
2013-14
2014-15
30
43
46
41
295
325
393
402
17
19
18
21
342
387
457
465
BOX ITEM 1
50
2012-13
2013-14
2014-15
0.03
0.04
0.03
0.01
14.22
15.43
12.32
16.05
0.0
0.0
0.0
0.0
14.25
15.47
12.35
16.06
51
TABLE I.58 SHARE OF TOP 5 STATES IN HEALTH INSURANCE PREMIUM FOR FY 2014-15
Group Business
(other than RSBY &
Govt Sponsored
Schemes)
State/ UT
(Amount in
` Crore)
Government Business
(only of RSBY &
Other Govt Sponsored
Schemes)
Individual Business
Total HI Business
% age share
% age share
% age share
% age share
(Amount in
(Amount in
(Amount in
in National
in National
in National
in National
` Crore)
` Crore)
` Crore)
premium
premium
premium
premium
Maharashtra
3,468
39%
750
31%
2,357
27%
6,575
33%
Tamil Nadu
1,237
14%
482
20%
768
9%
2,487
12%
Karnataka
1,521
17%
92
4%
509
6%
2,123
10%
Delhi
853
10%
0%
923
11%
1,783
9%
Gujarat
123
1%
69
3%
1,140
13%
1,331
7%
Rest of India
1,696
19%
1,026
42%
3,076
35%
5,798
29%
Total
8,898
100%
2,425
100%
8,772
100%
20,096
100%
TABLE I.59 SHARE OF VARIOUS CHANNELS OF DISTRIBUTION - NUMBER OF POLICIES ISSUED AND
AMOUNT OF PREMIUM FOR FY 2014-15
Individual Business
Name of the Channel
Total
(Individual + Group)
Group Business
No. of policies
Issued
Gross
Premium
No. of policies
Issued
Gross
Premium
No. of policies
Issued
3%
3%
7%
43%
3%
26%
15%
12%
52%
4%
16%
7%
2%
4%
11%
1%
3%
2%
2%
3%
0%
0%
2%
1%
9%
8%
17%
45%
9%
29%
69%
70%
13%
8%
67%
35%
0.005%
0.000%
0%
0.008%
100%
100%
100%
100%
Brokers
Corporate Agent - Banks
Individual Agents
Micro-insurance Agents
Total of all channels
52
Gross
Premium
0.013% 0.004%
100%
100%
Gujarat
7%
Delhi
9%
Tamil Nadu
12%
Karnataka
10%
70%
60%
50%
40%
30%
20%
10%
0%
Premium - Individual
Business
Premium - Group
Business
Brokers
Corporate Agent - Other than Banks
Direct Sale - Other than Online
53
total business
Particulars
Number
Claims pending
at the beginning
of the period
Reimbursement
Cashless
2,14,691
Amount
25,957
Number
Amount
Benefit Based
Number
Amount
Total
Number
Amount
1,41,908
37,705
162
60
3,56,761
63,722
New claims
registered during
the period
9,05,460
1,108
195
56,93,053
17,99,041
Claims settled
during the period
6,34,613
611
144
51,20,817
13,02,039
Claims repudiated
during the period
1,87,695
76,773
3,05,101
1,08,203
476
76
4,93,272
1,85,052
Claims pending
at the end of the
year
2,93,749 1,75,288
1,41,793
2,00,348
183
35
4,35,725
3,75,672
TABLE I. 61
CLAIMS HANDLED DIRECTLY BY THE INSURERS IN - HOUSE
(Numbers in Actual) (Amount in ` Lakh)
Particulars
Reimbursement
Cashless
Number
Amount
Number
Amount
Benefit Based
Number
Amount
Total
Number
Amount
Claims pending
at the beginning
of the period
5,74,592
19,037
73,570
82,394
1,873
4,551
6,50,035
1,05,982
New claims
registered during
the period
30,93,065
2,53,136
9,40,609
3,72,422
19,122
32,057
40,52,796
6,57,615
Claims settled
during the period
33,61,565
2,15,294
7,39,047
2,81,385
14,351
23,575
41,14,963
5,20,253
Claims repudiated
during the period
1,68,769
36,656
2,00,771
1,03,541
4,382
6,992
3,73,922
1,47,188
Claims pending
at the end of
the year
1,37,323
20,223
74,361
69,891
2,262
6,040
2,13,946
96,155
54
TABLE I. 62
CLAIMS HANDLED DIRECTLY BY THE INSURERS (BOTH THROUGH TPAs AND IN-HOUSE)
(Numbers in Actual) (Amount in ` Lakh)
Particulars
Reimbursement
Cashless
Number
Number
Amount
2,15,478
1,20,099
New claims
registered during
the period
Claims settled
during the period
60,43,037
Claims repudiated
during the period
Claims pending
at the end of
the year
Claims pending
at the beginning
of the period
Amount
Total
Benefit Based
Amount
Number
2,035
4,611
10,06,796
1,69,704
12,77,882
20,230
32,252
97,45,849
24,56,656
8,82,576 31,77,781
9,15,998
14,962
23,719
92,35,780
18,22,293
3,56,464
1,13,428
5,05,872
2,11,744
4,858
7,068
8,67,194
3,32,240
4,31,072
1,95,512
2,16,154
2,70,239
2,445
6,076
6,49,671
4,71,827
7,89,283
44,994
Number
Amount
Claims
pending for
< 1 Month
Reimbursement
Cashless
Number
Amount
Number
Amount
Total
Benefit Based
Number
Amount
Number
Amount
21,90,358
4,95,263
18,31,059
3,34,443
350
54
40,21,767
8,29,760
1 to 3 months
4,07,339
1,42,313
4,10,911
1,75,762
179
39
8,18,429
3,18,113
3 to 6 months
60,796
22,712
1,49,255
94,191
61
37
2,10,112
1,16,940
6 to 12 months
21,095
5,884
37,537
25,505
15
11
58,647
31,401
1,474
936
7,203
3,461
8,680
4,398
410
175
2,769
1,252
3,182
1,428
26,81,472
6,67,282
24,38,734
6,34,614
611
144
51,20,817
13,02,040
1 to 2 years
> 2 years
Total
55
Claims
pending for
Reimbursement
Cashless
Amount
Number
Amount
29,20,013
1,93,826
5,96,635
2,31,219
1 to 3 months
3,75,939
17,735
1,01,294
3 to 6 months
63,262
2,798
6 to 12 months
2,210
< 1 Month
1 to 2 years
> 2 years
Total
Number
Benefit Based
Number
Total
Amount
Number
Amount
10,512
10,421
35,27,160
4,35,465
32,540
2,508
8,193
4,79,741
58,468
32,830
11,649
953
3,621
97,045
18,068
883
6,519
4,572
306
1,121
9,035
6,577
109
41
1,096
506
54
201
1,259
748
32
12
673
898
18
18
723
927
33,61,565
2,15,294
7,39,047
2,81,385
14,351
23,575
41,14,963
5,20,254
TABLE I. 65 AGING OF CLAIMS HANDLED DIRECTLY BY THE INSURERS (BOTH THROUGH TPAs AND IN-HOUSE)
(Numbers in Actual) (Amount in ` Lakh)
Claims
pending for
< 1 Month
Reimbursement
Cashless
Number
Amount
Number
Amount
Benefit Based
Number
Total
Amount
Number
Amount
51,10,371
6,89,088
24,27,694
5,65,662
10,862
10,475
75,48,927
12,65,226
1 to 3 months
7,83,278
1,60,047
5,12,205
2,08,302
2,687
8,232
12,98,170
3,76,581
3 to 6 months
1,24,058
25,510
1,82,085
1,05,840
1,014
3,658
3,07,157
1,35,008
23,305
6,767
44,056
30,078
321
1,132
67,682
37,977
1,583
977
8,299
3,967
57
202
9,939
5,146
442
186
3,442
2,150
21
19
3,905
2,355
60,43,037
8,82,576
31,77,781
9,15,999
14,962
23,719
92,35,780
18,22,293
6 to 12 months
1 to 2 years
> 2 years
Total
st
TABLE I.66
NAMES OF TPAs WHOSE
REGISTRATIONS WERE RENEWED DURING 2014-15
Sl.
Name of TPA
No.
1
Medi Assist India TPA Pvt. Ltd.
2
1,42,070
2,14,691
58
(84.50)
(84.78)
(84.64)
51,20,817
Total
(12.88)
4,07,339
(14.24)
4,11,090
Cashless Reimbursment
(13.53)
8,18,429
Total
(1.92)
60,796
Cashless
(5.93)
1,87,695
Cashless
(10.58)
3,05,577
Reimbursment
(8.15)
4,93,272
Total
(3.47)
2,10,112
Total
(0.73)
22,979
(1.65)
47,530
Cashless Reimbursment
> 6 Months
(1.17)
70,509
Total
60,49,814
Total
(9.29)
2,93,749
Cashless
(4.92)
1,41,976
Reimbursment
(G)=(A+B+C-E-F)
(7.20)
4,35,725
Total
(5.17)
1,49,316
Reimbursment
28,86,898
Cashless Reimbursment
55,95,170 31,62,916
Total
(D)
Figure in the brackets indicate the ratio (in per cent) of claims settled / rejected / closed to the total of Column 'D' of the table.
24,39,345
Reimbursment
26,81,472
Cashless
26,70,178
Reimbursment
(F)
(66.48)
29,24,992
Cashless
(E)
(63.44)
(69.25)
40,21,767
97883
Total
74650
Reimbursment
23233
Cashless
18,31,409
21,90,358
Total
3,56,761
Total
( C)
Reimbursment
Cashless
<= 1 Month
Reimbursment
(B)
(A)
Cashless
Claims outstanding
at the beginning of the year
TABLE I.67
TPA- CLAIMS DATA FOR THE FY 2014-15
TABLE I.68
TPA INFRASTRUCTURE FOR F.Y. 2014-15
Sl.
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
No. of
Hospitals
in the
Network
at the
beginning
of the year
No.of
No. of
Hospitals
Hospitals
added to
withdrawn /
the Network
removed
during
from
the year
Network
during
the year
* Total
No. of
Hospitals
in the
Network
at the end
of the year
No.of
Branches
at the end
of the year
Manpower
at the end
of the year
4008
1162
86
3457
9
958
22
294
8
93
0
255
4009
148
108
3496
10
1
3
23
33
28
15
404
5242
4126
2902
4162
1482
3676
4647
1631
212
24
362
551
132
206
416
51
36
5
0
150
15
40
346
0
5418
4145
3264
4563
1599
3842
4717
1682
82
5
0
18
2
19
13
10
768
92
44
682
14
246
285
75
808
3574
3281
8804
438
592
766
706
0
52
16
115
1246
4114
4031
9395
2
38
16
72
10
749
406
2512
6131
5162
3795
5181
720
664
794
5765
18
432
193
300
6833
5394
4396
10646
55
41
18
22
330
2628
337
1375
1893
3229
1898
33
378
235
4
40
0
1926
3567
2133
5
45
8
124
550
30
3928
3444
358
260
15
1
4271
3704
5
5
148
48
1409
189
1598
26
3260
6013
6471
0
836
185
1205
0
41
52
136
0
4055
6146
7676
0
4
16
26
1
178
1287
630
13
40521
10238
782
50118
161
4746
59
I . 4 . 9 . 11 I R D A I a n d F I U - I N D s i g n e d a
Memorandum of Understanding (MoU) on Mutual
Cooperation on 29th January 2014 as part of
continued coordinated efforts in effective
implementation of requirements of the Prevention
of Money Laundering Act and the rules framed
thereunder.
According to the MoU, IRDAI and FIU-IND will
cooperate with each other in areas of mutual
interest including the following:
a) Sharing of intelligence and information
available in their respective databases.
f)
62
TABLE I.69
NATIONAL AGRICULTURAL INSURANCE SCHEME (NAIS)
S.No.
Season
(In R lakh)
No. of Farmers
Insured
Sum Insured
5239299
1128393.63
25767.81
54320.16
10649354
2719906.05
87874.18
278578.90
Premium
Claims Reported
Rabi 2011-12
Kharif 2012
Rabi 2012-13
6141677
1571008.05
44769.98
205254.95
Kharif 2013
9749600
2900218.30
97752.19
310027.16
Rabi 2013-14
3973588
1255204.10
29752.22
104275.74
Kharif 2014
9683529
2438783.90
84465.84
289683.52
63
TABLE I.70
MODIFIED NATIONAL AGRICULTURAL INSURANCE SCHEME (MNAIS)
(In R lakh)
S.No.
Season
Rabi 2011-12
Kharif 2012
Rabi 2012-13
No. of Farmers
Insured
Sum Insured
617328
163181.19
15506.86
7264.40
1605822
438424.52
51101.60
61077.94
805609
162406.22
17948.57
4626.48
Kharif 2013
1429499
429557.29
53280.57
61951.09
Rabi 2013-14
2163549
441179.85
37314.38
43924.88
Kharif 2014
2347611
405412.47
46976.92
23022.86
64
TABLE I.71
WEATHER BASED CROP INSURANCE SCHEME (WBCIS)
(In R lakh)
S.No.
Season
No. of Farmers
Insured
Sum Insured
Rabi 2011-12
3169918
669577.58
55754.43
58211.10
Kharif 2012
3547463
724009.97
72647.97
54697.44
Rabi 2012-13
3706834
646623.46
57562.09
77740.13
Kharif 2013
5000339
891262.43
89820.20
66692.59
Rabi 2013-14
1287898
311593.89
28610.78
29798.38
Kharif 2014
2455421
600899.01
62123.08
55089.77
65
TABLE I.72
COCONUT PALM INSURANCE SCHEME (CPIS)
(In R lakh)
S.No.
Year
No. of Farmers
Insured
Sum Insured
2009-10
45
112.32
0.66
0.00
2010-11
35019
19904.24
106.08
30.26
2011-12
8454
5510.95
29.77
92.47
2012-13
12279
7843.90
40.57
76.80
2013-14
13970
8694.60
70.87
95.49
2014-15
2845
2500.56
17.60
30.75
66
Non-Life Sector
I.4.11.6 The Government of India set up a
consulting group in 2003 to examine the existing
insurance schemes for the rural poor; and on the
basis of the groups recommendations, the
TABLE 1.73
NEW BUSINESS UNDER MICRO-INSURANCE PORTFOLIO FOR 2014-15
(Premium in R Lakh)
Group
Individual
Policies
Premium
Schemes
Private Total
416027
1249.22
62
3366.22
2531436
LIC
400341
1640.23
5417
28193.80
20596725
Industry Total
816368
2889.45
5479
31560.02
23128161
Note: New business premium includes first year premium and single premium.
67
Premium
Lives covered
TABLE I.74
DETAILS OF MICRO-INSURANCE AGENTS OF LIFE INSURERS - 2014 - 15
As on
1st April, 2014
Additions
Deletions
1656
53
233
1476
LIC
18401
1790
812
19379
Industry Total
20057
1843
1045
20855
Insurer
Private Total
As on
31st March, 2015
TABLE I.75
INDIVIDUAL DEATH CLAIMS UNDER MICRO- INSURANCE PORTFOLIO - 2014-15
(Benefit Amount in ` Lakhs)
Total Claims
Claims paid
Claims repudiated
Claims pending at
end of year
Life Insurer
No of
Policies
Private Total
LIC
Industry Total
1814
11582
13396
Benefit
Amount
405.39
1845.48
2250.87
No of
Policies
Benefit
Amount
No of
Policies
Benefit
Amount
No of
Policies
Benefit
Amount
1773
339.86
40
63.83
1.69
97.74%
83.84%
2.21%
15.75%
0.06%
0.42%
11365
1817.67
207
25.45
2.35
98.13%
98.49%
1.79%
1.38%
0.08%
0.13%
13138
2157.53
247
89.28
10
4.04
98.07%
95.85%
1.84%
3.97%
0.07%
0.18%
Note: The percentages indicate the those of the respective total claims.
68
Total Claims
Claims repudiated
Claims pending
at end of year
Life Insurer
No of
Lives
Private Total
LIC
5655
Benefit
Amount
1252.09
127836 41477.61
No of
Lives
No of
Lives
Benefit
Amount
5517
1218.38
18
4.96
97.56%
97.31%
0.32%
0.40%
127751 41443.90
76
31.28
99.92%
0.06%
0.08%
133268 42662.28
94
36.24
0.07%
0.08%
99.93%
Industry Total 133491 42729.70
Benefit
Amount
99.83%
99.84%
No of
Lives
Benefit
Amount
0.00
No of
Lives
Benefit
Amount
120
28.75
2.12% 2.30%
9
2.43
0.01% 0.01%
0
0.00
129
31.18
0.10% 0.07%
Note: The percentages indicate the those of the respective total claims.
Life Insurer
Within 30
Days
Private Total
LIC
Industry Total
(No. of Policies)
31 to 90
Days
1691
95.38%
11365
100.00%
13056
99.38%
70
3.95%
0
0.00%
70
0.53%
91 to 180
Days
181 Days to
1 Year
10
0.56%
0
0.00%
10
0.08%
0
0.00%
0
0.00%
0
0.00%
More than
1 Year
2
0.11%
0
0.00%
2
0.02%
Total Claims
Settled
1773
100.00%
11365
100.00%
13138
100.00%
Note: The percentages indicate the those of the respective total claims settled.
Duration
Life Insurer
Within 30
Days
Private Total
LIC
Industry Total
(No. of Lives)
2695
46.80%
127079
99.47%
129774
97.20%
31 to 90
Days
2937
51.01%
672
0.53%
3609
2.70%
91 to 180
Days
181 Days to
1 Year
83
1.44%
0
0.00%
83
0.06%
Note: The percentages indicate the those of the respective total claims settled.
69
43
0.75%
0
0.00%
43
0.03%
More than
1 Year
0
0.00%
0
0.00%
0
0.00%
Total Claims
Settled
5758
100.00%
127751
100.00%
133509
100.00%
TABLE I.79
LIST OF CENTRAL PUBLIC INFORMATION OFFICERS
Sl No
Department
Actuarial
Mr. Chandrasekhar V
Life
Non-life
Mr. R Pardhasaradhi
Mrs. M Saritha
Consumer Affairs
Mr. K Srinivas
Admn/HR/IT/Legal/Sectoral Development
Mr. P Himakiran
Intermediaries
Mr. RajeshwarGangula
Agency Distribution
10
Mr. BiswajitSamaddar
Internal Accounts
11
Investments
12
13
70
PART - II
REVIEW OF WORKING AND OPERATIONS
II.1 Regulation of Insurance and Reinsurance
Companies
TABLE II.1
DETAILS OF INDIVIDUAL AGENTS OF
LIFE INSURERS 2014-15
Insurer
As on 1st
As on 31st
Additions Deletions
April 2014
March 2015
Private
Total
992584
313668
401949
904303
LIC
1195916
342048
374360
1163604
Industry
2188500
Total
655716
776309
2067907
Corporate Agency
II.2.3 As on 31.03.2015, there were 503 Corporate
Agents. While 79 new corporate agents were
added during 2014-15, licenses of 265 corporate
agents were cancelled. LIC had terminated 21
corporate agents and issued 14 new licenses. The
private insurers had terminated 244 corporate
agents and while adding 65 new corporate agents.
TABLE II.2
DETAILS OF CORPORATE AGENTS OF
LIFE INSURERS 2014-15
Insurer
As on 1st
As on 31st
Additions Deletions
April 2014
March 2015
Private
Total
540
65
244
361
LIC
149
14
21
142
Industry
Total
689
79
265
503
TABLE II.3
INDIVIDUAL NEW BUSINESS PERFORMANCE OFLIFE INSURERS FOR 2014-15 - CHANNEL WISE
(Figures in percent of Premium)
Life Insurer
Individual
Agents
Corporate
Agents
Brokers
Direct
Selling
MI
Agents
Common
Service
Centres
(CSCs)
Banks Others*
Total
Individual
Referrals
New
Business
Private Total
35.73
47.37
3.35
4.49
9.06
0.003
0.001
100.00
0.04
LIC#
95.97
2.60
0.12
0.02
1.24
0.05
0.00
100.00
0.00
Industry Total
71.42
20.84
1.44
1.84
4.42
0.03
0.001
100.00
0.01
CHART II.1: INDIVIDUAL NEW BUSINESS PREMIUM OF LIFE INSURERS CHANNEL WISE
120.00
100.00
Per cent
80.00
60.00
40.00
20.00
0.00
Individual Corporate Corporate
Agents
Agents
Agents
Others
Banks
Private
Brokers
LIC
Direct
Selling
Common
MI Agents Service
Centres
(CSCs)
Total
CHART II.2: GROUP NEW BUSINESS PREMIUM OF LIFE INSURERS - CHANNEL WISE
120.00
100.00
Per cent
80.00
60.00
40.00
20.00
0.00
Individual
Agents
Corporate
Agents Banks
Corporate
AgentsOthers
Brokers
Private
75
LIC
Direct Selling
Total
MI Agents
Common
Service
Centres
(CSCs)
BOX ITEM 2
The Insurance Regulatory and Development Authority (IRDAI) had recently brought in the new concept of
intermediaries in the insurance distribution known as Insurance Marketing Firm (IMF). The authority had formulated the
regulations which came into effect from the date of gazette notification dated 21.01.2015. IMFs are expected to help in
increasing insurance penetration.
The salient features of this intermediary are as follows:
l
a) IMF should employ Insurance Sales Persons (ISPs) for soliciting and procuring insurance products from
TWO life, TWO general and TWO health insurance companies at any point of time. In case of general insurance
only retail lines of business is allowed.
b) IMF can undertake Insurance Servicing Activities.
c) IMF can market other financial products through Financial Service Executives (FSEs)
The jurisdiction for its operations is restricted to a district. However the business can be solicited pan India.ISP should
be domiciled in that district.
There shall be a Principal Officer (PO) for IMF who is responsible for all activities and whose qualification, experience
etc are envisaged in the regulations.
The PO and ISPs shall complete prescribed training and examination requirements.
Professional Indemnity Insurance Cover throughout the validity period as per the requirements prescribed.
Remuneration payable to IMF by the Insurer is as per Sec. 40(1) and 40(2) as specified by the authority. Apart from
the above, the IMF may receive service charges for recruiting, training and mentoring ISPs which shall not exceed
50% of First Year Commission and 10% of Renewal Commission.
TABLE II.4
GROUP NEW BUSINESS PERFORMANCE OF LIFE INSURERS FOR 2014-15 - CHANNEL WISE
(Figures in percent of Premium)
Life Insurer
Individual
Agents
Corporate
Agents
Brokers
Direct
Selling
MI
Agents
Banks Others*
Common
Service
Centres
(CSCs)
Total
Group
New
Business
Referrals
Private Total
4.52
10.36
5.10
3.40
76.60
0.00
0.00
100.00
0.00
LIC#
2.47
0.03
0.00
0.03
97.47
0.00
0.00
100.00
0.00
Industry Total
2.90
2.22
1.08
0.75
93.05
0.00
0.00
100.00
0.00
76
TABLE II.5
NEW BUSINESS PREMIUM (INDIVIDUAL AND GROUP) OF LIFE INSURERS FOR 2014-15 - CHANNEL-WISE
(Figures in percent of Premium)
Individual
Agents
Life Insurer
Corporate
Agents
Brokers
Direct
Selling
MI
Agents
Banks Others*
Common
Service
Centres
(CSCs)
Total
New
Business
Referrals
Private Total
24.75%
34.35% 3.96%
4.11%
32.83%
0.00%
0.00%
100.00%
0.02%
LIC#
41.64%
1.11% 0.05%
0.03%
57.15%
0.02%
0.00%
100.00%
0.00%
Industry Total
36.44%
11.34% 1.26%
1.28%
49.67%
0.02%
0.0003%
100.00%
0.01%
CHART II.3: NEW BUSINESS PREMIUM (INDIVIDUAL & GROUP) OF LIFE INSURERS
70.00
In Per cent
60.00
50.00
40.00
Private
30.00
LIC
Total
20.00
10.00
0.00
Individual Corporate Corporate
Agents - Agents Agents
Others
Banks
Brokers
Direct
Selling
MI Agents
Common
Service
Centres
(CSCs)
TABLE II.6
LICENCES ISSUED TO SURVEYORS AND
LOSS ASSESSORS
2013-14
2014-15
Fresh licenses
Individual
480
182
Corporate
55
535
187
Individual
1784
2137
Corporate
158
20
1942
2157
536
753
Sub total
Renewals
Sub-total
Trainee Enrollments
78
BOX ITEM 3
The Insurance Laws (Amendment) Act, 2015 has been promulgated to amend the Insurance Act, 1938, the General
Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999.
The Act has substantially changed the statutory framework of section 64UM laid down for surveyors and loss assessors
and has empowered IRDA to prescribe qualification, code of conduct and other professional requirements by way of
regulations.
The key amendments brought in section 64 UM include:
(I) Academic qualification specified by the Authority and membership of IIISLA shall be the two statutory requirements
for a person to act as surveyor and loss assessor.
(ii) The limit of claim amount exceeding which an insurer requires survey report from a licensed surveyor shall be
specified in the regulations by IRDA.
(iii) The statutory provision on fee, academic requirement, period of validity of license are removed from the Act and
IRDA is empowered to prescribe the same vide regulations.
(iv) The provision of automatic disqualification in absence of academic qualification and professional body
membership is introduced in section 64UM.
(v) Statutory requirement of notification of cancellation of license in the Official Gazette is removed.
(vi) Period for which a person may act as a surveyor or loss assessor shall be specified by the IRDA.
As a result of the amendments in the Act the existing Insurance Surveyors and Loss Assessors regulations would
undergo a change. The draft regulations along with schedules uploaded on IRDA website on 6th April, 2015 seeking
comments/ suggestions/ views from all stakeholders. Based on the comments received, the important changes in the
Insurance Surveyors and Loss Assessors Regulations are as follows:
1) license period reduced to 3 years in line with the Act requirements
2) Qualifications to be prescribed in the regulations.
3) limit of survey introduced - motor - above R 50,000 and other than motor - above R 1 lakh. This limit shall be
reviewed every three years.
4) cooling off period after suspension/cancellation reduced from 3 to 1 year
5) appeal against the decision of Authority to SAT
6) Foreign investment allowed upto 49% as per the Rules of Central Government read with Regulations of the Authority
7) Appeal against the decision of Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA) in granting
membership shall lie with the Authority
8) In case IIISLA does not grant membership to the applicant, the applicant can appeal to Chairman, IRDAI whose
decision shall be binding on IIISLA. In case IIISLA does not still comply, the Authority may grant surveyor & loss
assessor license on merits.
9) Fit & Proper criteria for directors/ partners of corporate surveyors introduced
10) Surveyor and loss assessor not to undertake any advisory or consultancy work or any other job which can give rise
to conflict of interest
11) Transitory provision all those surveyors and loss assessor who are currently holding surveyors license shall
comply with the requirements of academic qualifications and obtain IIISLA membership with 3 years from date of
notification of revised regulations.
12) In cases where the survey report is pending due to non completion of document or any other reasons, the surveyor
may issue the final report based on the available documents on record after giving minimum three reminders in
writing to the insured.
13) corporate surveyor company/ firm shall maintain records in the format specified by the Authority which shall capture
claim-wise and licensed surveyor-wise details wherein each claim surveyed by the company/ firm is tagged to the
licensed surveyor in the company/ firm.
14) corporate surveyor company/ firm shall put in place systems which allow regular access to such records and details
by the Authority.
79
Insurance Brokers
TABLE II.7
GRIEVANCES RELATING TO SURVEYORS AND LOSS ASSESSORS
Outstanding at the
beginning of period
Received
69
45
27
27
46
61
12
Addressed
Outstanding at the
end of the period
6
7
8
9
10
11
12
13
14
80
State
Maharashtra
New Delhi
West Bengal
Tamil Nadu
Andhra Pradesh &
Telangana
Uttar Pradesh
Gujarat
Karnataka
Punjab
Kerala
Rajasthan
Chandigarh
Madhya Pradesh
Haryana
Total
No. of Brokers
132
85
36
36
29
23
18
17
12
13
7
4
4
3
419
Web Aggregators
TABLE II.9
WEB AGREGATORS APPROVED BY
THE AUTHORITY (AS AT 31 MARCH, 2015)
S No. Name
1
iGear Financial Services Pvt. Ltd.
2
Great Indian Marketing & Consulting
Services Pvt. Ltd.
3
Voila Consultancy Services India Private
Limited
4
Policy Mantra Insutrade Pvt. Ltd.
5
Deztination Insurance Solutions Pvt. Ltd.
6
Commet Insurance Web Aggregator Pvt Ltd.
7
PolicyX.com Insurance Web Aggregator
Pvt Ltd
8
Fingoole Insurance Web Aggregator Pvt Ltd.
9
OA Insurance Web Aggregators Pvt Ltd.
10
Easy Policy Insurance Web Aggregator
Pvt Ltd
11
Policybazaar Insurance Web Aggregator
Pvt Ltd.
1.
2.
Supreme Court
Writ Petitions filed in various
High Courts
Writ Appeals ,LPAs filed in various
High Courts
Review/Restoration Petitions filed in
various High Courts
Contempt Petitions filed in High Courts
Consumer Cases (DCF+SCDRC)
Civil & Lok Adalat cases
MACT cases
PILs
Criminal Petitions
State Minorities Commission
Total
3.
4.
5.
6.
7.
8.
9.
10.
11.
Non Life
HR
Health
CAD
Life
Brokers
Total
16
10
13
50
0
0
2
2
0
0
0
0
21
0
1
0
0
0
1
1
0
17
0
1
0
0
0
0
0
0
3
0
0
24
5
0
0
0
1
40
0
0
20
2
0
0
0
0
28
0
0
0
0
0
0
0
0
13
0
2
46
9
0
1
1
1
122
BOX ITEM 4
82
(Contd.....)
83
TABLE II.11
DETAILS OF CASES DISPOSED/DISMISSED FOR THE PERIOD 2014-15
Sl.No. Particulars
Non Life
HR
Health
CAD
Life
Brokers
Total
B
2
1.
Supreme Court
2.
10
11 16
Review/Restoration Petitions
disposed in various High Courts
6.
Consumer Cases
7.
8.
MACT cases
Total
11
12 21
3.
4.
5.
II.5 INTERNATIONAL
INSURANCE
COOPERATION IN
TABLE II. 12
STATUS OF GRIEVANCES - LIFE INSURERS DURING 2014-15
Grievances Reported
during 2014-15
Resolved
during 2014-15
80944
80944
PRIVATE
1180
198048
193119
6109
TOTAL
1180
278992
274063
6109
Insurer
LIC
Outstanding as on
31st March, 2014
89
Outstanding as on
31st March, 2015
Life Insurers
Non-Life Insurers
II.6.6 The non-life insurance companies resolved
96.59 per cent of the complaints handled during
the year 2014-15. The private non-life insurance
companies resolved 96.31 per cent and public nonlife insurance companies resolved 97.36 per cent
of the complaints handled by them. As on 31st
March, 2015, a total of 2099 complaints were
pending with the companies for resolution, out of
which 1662 belong to private sector and 487
pertain to public sector non-life insurance
companies.
60
56
52
50
in percent
40
30
20
20
10
17
10
11
8
8
2
0
Claims
Others
Policy
Servicing
Proposal
Processing
ULIP
Related
2014 - 15
2013 - 14
90
Unfair
Business
Practice
TABLE II. 13
STATUS OF GRIEVANCES - NON LIFE INSURERS DURING 2014-15
Outstanding as on Grievances Reported
during 2014-15
31st March, 2014
Insurer
Resolved
during 2014-15
Outstanding as on
31st March, 2015
682
15860
16105
437
PRIVATE
152
44828
43318
1662
TOTAL
834
60688
59423
2099
in percent
in percent
PUBLIC
91
l Insurance Awareness Programme of IRDAI Life Insurance Council not only participated in
th
the inaugural ceremony on 8 Jan 2015 but also
is in process of co-ordinating with the Authority
and its members for smooth conduct of these
planned district level seminars.
n Data
on "Confiscation of
Insurance policies under Prevention of
Money Laundering Act and Rule there under".
by Product Category
n IRDA Circular on Pilot Launch of Insurance
Repository System.
Policies
Compliance
(Amendment)Ordinance 2014
95
97
TABLE II. 14
DISPOSAL OF COMPLAINTS BY OMBUDSMAN DURING 2014-15
Insurer
Life
Non-Life
Combined
Complaints
O/S as on
31.3.2014
5724
3893
9617
Received
during
2014-15
14339
7145
21484
Total
20063
11038
31101
Complaints
disposed
during
2014-15
15666
8653
24319
(II)
(IV)
3402
1329
1718
9217
[21.72]
[8.48]
[10.97]
[58.83]
2687
773
1404
3789
[31.05]
[8.93]
[16.23]
[43.79]
6089
2102
3122
13006
[25.04]
[8.64]
[12.84]
[53.48]
O/S : Outstanding
Notes:
(I) Recommendations / Awards (III) Dismissal
(II) Withdrawal / Settlement
(IV) Non-acceptance / Not-entertainable
Figure in brackets indicates percentages to the respective complaints disposed.
98
(III)
Complaints
O/S as on
31.3.2015
4397
2385
6782
PART - III
STATUTORY AND DEVELOPMENTAL FUNCTIONS OF THE AUTHORITY
Section 14 of the IRDA Act, 1999 (IRDA Act) lays
down the duties of the Authority to regulate,
promote and ensure orderly growth of the
insurance business and reinsurance business.
Sub-section (2) of the said section lays down the
powers and functions of the Authority. Chapter III of
the Annual Report covers the activities of the
Authority in 2014-15 while carrying out its functions
and exercising the powers conferred on it.
99
2)
3)
4)
5)
6)
7)
9)
102
103
Name
107
PART IV
ORGANISATIONAL MATTERS
IV.1 Organisation
Authority Meetings :
th
23rd
th
27
th
held on 20
th
1) 24
Meeting of the IAC
September, 2014
As on
31-03-2014
143
142
III
Sl.
No.
As on
31-03-2015
Promoted cadre
Number promoted
Deputy Director
Joint Director
Deputy Director
Assistant Director
22
Junior Officer
Assistant Director
Assistant
Junior Officer
24
1. F&A life
2. F&A Nonlife
3. Submission of AAAR,ARA and Reinsurance returns
5. Advertisement Life
IV.8 ACCOUNTS
2. HRMS - ERP
a. Automation of travel claims
b. Display of attendance
c. Status of staff reimbursements
3. A p p l i c a t i o n f o r m a i n t e n a n c e
communications to the insurers
of
116
117
STATEMENTS
STATEMENT 1
INTERNATIONAL COMPARISON OF INSURANCE PENETRATION*
(In Per Cent)
Countries
2013**
2014**
Total
Life
Non-Life
Total
Life
Non-Life
Australia
5.2
3.0
2.1
6.0
3.8
2.2
Brazil
4.0
2.2
1.8
3.9
2.1
1.9
France
9.0
5.7
3.2
9.1
5.9
3.1
Germany
6.7
3.1
3.6
6.5
3.1
3.4
Russia
1.3
0.1
1.2
1.4
0.2
1.2
South Africa
15.4
12.7
2.7
14.0
11.4
2.7
Switzerland
9.6
5.3
4.4
9.2
5.1
4.1
11.5
8.8
2.8
10.6
8.0
2.6
7.5
3.2
4.3
7.3
3.0
4.3
13.2
11.7
1.5
14.2
12.7
1.4
India#
3.9
3.1
0.8
3.3
2.6
0.7
Japan#
11.1
8.8
2.3
10.8
8.4
2.4
Malaysia#
4.8
3.2
1.7
4.8
3.1
1.7
Pakistan
0.7
0.5
0.3
0.8
0.5
0.3
PR China
3.0
1.6
1.4
3.2
1.7
1.5
Singapore
5.9
4.4
1.6
6.7
5.0
1.6
11.9
7.5
4.4
11.3
7.2
4.1
1.1
0.5
0.7
1.1
0.5
0.7
17.6
14.5
3.1
18.9
15.6
3.3
Thailand
5.5
3.8
1.7
5.8
3.6
2.2
World
6.3
3.5
2.8
6.2
3.4
2.7
United Kingdom
United States
Asian Countries
Hong Kong
South Korea#
Sri Lanka
Taiwan
121
STATEMENT 2
INTERNATIONAL COMPARISON OF INSURANCE DENSITY*
(In US Dollar)
Countries
2013**
2014**
Total
Life
Non-Life
Total
Life
Non-Life
3528
2056
1472
3736
2382
1354
443
246
197
422
222
200
France
3736
2391
1345
3902
2552
1350
Germany
2977
1392
1585
3054
1437
1617
199
19
180
181
20
161
South Africa
1025
844
181
925
748
176
Switzerland
7701
4211
3490
7934
4391
3542
United Kingdom
4561
3474
1087
4823
3638
1185
United States
3979
1684
2296
4017
1657
2360
5002
4445
557
5647
5071
575
52
41
11
55
44
11
4207
3346
861
3778
2926
852
518
341
176
524
338
186
11
PR China
201
110
91
235
127
109
Singapore
3251
2388
863
3759
2840
919
South Korea#
2895
1816
1079
3163
2014
1149
36
16
21
40
17
23
3886
3204
682
4072
3371
701
Thailand
310
214
96
323
198
125
World
652
366
285
662
368
294
Australia
Brazil
Russia
Asian Countries
Hong Kong
India#
Japan#
Malaysia#
Pakistan
Sri Lanka
Taiwan
122
28.11
--
0.32
Birla Sunlife
123
--
Kotak Mahindra
-14.69
--
Sahara
0.48
21.14
(259.65)
(4061.70)
(152.74)
2440.71
181.59
--
--
207.05
--
27.21
23.41
137.28
125.51
--
--
750.84
209.33
--
72.10
--
--
--
449.86
--
179.55
76.96
--
2003-04
464.53
--
10.33
827.82
26.34
193.56
148.53
471.36
396.06
--
--
2602.50
1042.65
--
283.98
--
--
--
678.12
--
2716.77
407.12
--
2005-06
644.82
--
181.17
2563.84
43.00
932.11
340.44
912.11
614.94
--
--
5162.13
1648.85
--
467.66
--
--
--
882.72
7.78
4302.74
721.35
--
2006-07
964.51
--
309.99
4792.82
122.12
2751.05
825.35
1597.83
1106.62
--
11.90
8034.75
2685.37
2.49
704.44
--
--
--
1965.01
113.24
6674.48
1053.98
--
2007-08
1142.67
50.19
314.47
5386.64
134.01
3513.98
1144.70
1842.91
1343.03
--
316.78
6811.83
2651.11
149.97
688.95
--
3.37
296.41
2820.85
292.93
4491.43
724.56
31.21
2008-09
(127.99)
(84.55)
(89.16)
(73.56)
(1.29)
297.55
--
--
484.85
1.74
91.33
57.52
233.63
373.99
--
--
1584.34
486.15
--
282.42
--
--
--
621.31
--
857.45
192.29
--
2004-05
(-18.44)
(8.58)
(19.05)
(38.07)
(97.17)
(6.71)
(-11.36)
1332.21
758.69
571.99
7589.58
91.83
3034.94
706.22
2061.39
1253.14
704.77
444.95
7862.14
4059.33
448.61
660.49
--
74.15
817.29
2080.30
347.78
3465.82
745.39
274.87
2010-11
939.55
964.77
390.99
6531.32
71.14
1809.29
1076.97
1901.72
1164.27
982.31
311.01
4441.09
3857.47
345.03
638.14
10.88
103.16
687.10
1926.17
224.59
2717.31
801.86
207.65
2011-12
560.16
744.80
420.65
5182.88
61.43
1376.57
840.08
1899.34
1188.10
1316.42
345.14
4808.62
4436.07
240.43
638.20
47.33
140.01
606.72
1836.51
248.92
2987.90
687.40
135.90
2012-13
433.76
562.85
389.83
5065.48
65.09
1933.99
675.89
2261.60
1271.81
1681.36
315.69
3759.59
4038.93
224.90
567.81
80.72
172.95
608.07
1697.49
375.61
2592.03
593.76
147.22
2013-14
312.05
629.93
498.52
5529.16
38.44
2069.69
829.06
2572.60
1540.18
1538.67
484.50
5332.13
5492.10
252.41
644.75
122.42
578.01
476.98
1937.94
474.20
2702.10
556.89
207.50
2014-15
(2.64)
(-18.49)
(34.49)
(21.66)
(-5.92)
(12.36)
(-4.01)
(17.97)
(-6.41)
(18.53)
(-13.55)
(-4.22)
1322.01
519.87
419.50
7040.74
124.83
3920.78
1061.85
1849.08
1333.98
201.59
400.56
6333.92
3257.51
486.08
642.43
--
37.38
622.62
2960.01
437.43
4451.10
798.37
150.37
2009-10
(` Crore)
(104.56)
(-14.68)
(16.80)
(32.49)
(47.94)
(95.04)
(23.88)
(-6.81)
(25.84)
(15.02)
(-9.84)
(-5.80)
(12.08)
(-5.82)
9707.43 19857.28 16942.45 19788.32 26217.64 38785.54 75649.21 93712.52 87331.08 109893.91 126398.18 113966.03 107361.08 120325.22 113327.95
(101.93)
965.69
268.51
59.77
--
--
71.88
--
6.32
7.70
67.31
35.21
--
--
364.11
129.31
--
17.66
--
--
--
129.57
--
63.39
13.47
--
2002-03
Note: 1) Figures in the brackets represent the growth over the previous year in per cent.
2) -- represents business not started.
3) Previous years figures revised by insurers
Industry Total
LIC
6.45
--
Private Total
Tata AIA
--
--
--
--
--
SBI Life
Shriram Life
0.28
--
--
PNB Metlife
38.80
7.58
--
--
113.33
32.78
--
Reliance
0.16
--
IndiaFirst
Max Life
--
5.97
ICICI Prudential
IDBI Federal
0.002
HDFC Standard
4.19
--
--
Exide Life
Future Generali
--
--
Edelweiss Tokio
--
--
--
Canara HSBC
DHFL Pramerica
--
7.14
--
--
Bajaj Allianz
--
--
2001-02
Bharti AXA
--
Aviva
2000-01
--
INSURER
Aegon Religare
STATEMENT 3
INSURER
28.26
0.32
124
--
(310.59)
(4124.31)
(178.83)
3120.33
253.53
--
--
225.67
--
31.06
28.73
215.25
150.72
--
--
989.28
297.76
--
88.51
--
--
--
537.54
--
220.80
81.50
--
2003-04
880.19
--
10.33
1075.32
27.66
224.21
205.99
788.13
621.85
--
--
4261.05
1569.91
--
425.38
--
--
--
1259.68
--
3133.58
600.27
--
2005-06
(147.65)
(95.19)
7727.51 15083.54
497.04
--
--
601.18
1.74
106.55
81.53
413.43
466.16
--
--
2363.82
686.63
--
338.86
--
--
--
915.47
--
1001.68
253.42
--
2004-05
1992.87
31.21
2008-09
4858.56
2.49
1158.87
--
--
--
3272.19
118.41
5564.69
152.60
1442.28
--
3.37
296.41
4571.80
360.41
9725.31 10624.52
1891.88
--
2007-08
2046.35
--
358.05
5622.14
143.49
3225.44
1159.54
2714.60
1691.14
--
11.90
2747.50
50.19
436.17
7212.10
206.47
4932.54
1996.64
3857.26
2343.19
--
318.97
(87.31)
(82.50)
(25.09)
1367.18
--
184.16
2928.49
51.00
1004.66
492.71
1500.28
971.51
--
--
2855.87
--
707.20
--
--
--
1776.71
7.78
5345.24
1147.23
--
2006-07
(23.06)
79369.94
3493.78
530.37
611.27
10104.03
250.59
6604.90
2536.01
4860.54
2868.05
201.60
571.12
16528.75
7005.10
541.51
1642.65
--
38.44
842.45
5505.66
669.73
11419.71
2378.01
165.65
2009-10
(11.08)
88165.24
3985.22
933.31
821.52
12945.29
243.41
6571.15
2508.17
5812.63
2975.51
798.43
811.00
17880.63
9004.17
726.16
1708.95
--
95.04
1531.86
5677.07
792.02
9609.95
2345.17
388.61
2010-11
(-4.52)
84182.83
3630.30
1271.95
644.16
13133.74
225.95
5497.62
2677.50
6390.53
2937.43
1297.93
736.70
14021.58
10202.40
779.58
1679.98
10.88
167.01
1861.08
5885.36
774.16
7483.80
2415.87
457.32
2011-12
634.16
1830.67
110.90
305.86
1823.42
4833.05
872.65
5843.14
1878.10
453.00
2013-14
204.63
4283.40
2240.59
7278.54
2700.79
2143.36
826.25
2323.70
948.75
594.24
(-6.87)
(-1.33)
78398.91 77359.36
2760.43
1068.80
618.07
10450.03 10738.60
205.38
4045.39
2429.52
6638.70
2777.78
1690.08
804.68
13538.24 12428.65
11322.68 12062.90
678.29
1742.36
54.83
236.79
1912.15
5216.30
744.52
6892.70
2140.67
430.50
2012-13
(9.65)
(16.30)
(18.25)
(20.85)
(40.79)
(17.19)
(5.01)
(18.30)
(9.35)
(-0.29)
(2.92)
(13.48)
(43.54)
(11.28)
(19.56)
(24.31)
(27.78)
(47.41)
(29.01)
(10.15)
(19.69)
(9.87)
(-1.57)
(0.05)
(9.44)
34898.47 50094.46 55747.55 66653.75 82854.80 105875.76 156075.84 201351.41 221785.47 265447.25 291638.64 287072.11 287202.49 314301.66
(42.79)
4.39
328101.14
(1.15)
239667.65
14.32
88433.49
2121.79
1134.68
734.66
12867.11
166.86
4621.08
2461.19
8171.62
3038.05
2034.11
1069.62
15306.62
14829.90
604.25
2027.48
193.08
735.10
1657.02
5233.22
1053.32
6017.30
1796.25
559.20
2014-15
(` Crore)
34892.02 49821.91 54628.49 63533.43 75127.29 90792.22 127822.84 149789.99 157288.04 186077.31 203473.40 202889.28 208803.58 236942.30
1119.06
81.21
--
--
272.55
21.14
--
--
72.39
--
6.47
7.91
96.59
40.32
--
--
417.62
148.83
--
21.16
--
--
--
143.92
--
69.17
13.47
--
2002-03
Note: 1) Figures in the brackets represent the growth over the previous year in per cent.
2) -- represents business not started.
3) Previous years figures revised by insurers
Industry Total
LIC
6.45
--
--
Tata AIA
Private Total
--
Shriram Life
14.69
--
--
--
Sahara
SBI Life
0.48
0.28
--
--
38.95
7.58
PNB Metlife
0.16
--
--
116.38
33.46
--
4.19
--
--
--
Reliance
Max Life
Kotak Mahindra
--
5.97
IndiaFirst
0.002
HDFC Standard
ICICI Prudential
--
--
Future Generali
IDBI Federal
--
--
Edelweiss Tokio
--
DHFL Pramerica
Exide Life
--
Canara HSBC
Birla Sunlife
--
--
Bharti AXA
-7.14
--
--
Aviva
--
2001-02
--
2000-01
Bajaj Allianz
Aegon Religare
STATEMENT 4
125
78.19
551.74
293.91
TATA AIA
GRAND TOTAL
54.44
218.41
2.04
1379.84
0.10
505.52
307.22
521.52
269.02
91.74
17.30
3884.90
1845.36
21.80
20.94
17.64
8.54
249.22
665.13
6.10
331.27
113.53
32.95
Regular
1.44
34.70
24.38
555.29
2.89
21.74
9.53
38.69
137.95
76.24
105.24
480.25
530.68
4.32
9.31
4.95
0.23
4.90
12.57
1.92
643.57
4.71
0.45
55.88
253.11
26.42
1935.12
2.99
527.26
316.75
560.21
406.98
167.98
122.54
4365.15
2376.04
26.12
30.25
22.58
8.77
254.12
677.70
8.02
974.84
118.24
33.40
8326.96
95.84
212.20
27.69
39.15
1218.19
3000.12
244.24
1745.88
733.63
193.89
Total
630.34
284.37
32.65
3351.78
13.99
668.46
674.92
1553.96
622.47
444.98
84.57
686.22
537.48
59.07
5286.90
16.99
1195.72
991.67
2114.18
1029.45
612.96
207.11
6799.21 11164.35
5950.92
69.72
181.95
5.10
30.38
964.08
2322.42
236.22
771.03
615.39
160.48
Linked Premium
1.36
2.04
1875.01
1877.05
328101.14 10565.21 2707.32 13272.53 28344.42 41616.94
0.68
2121.79
1134.68
734.66
12867.11
166.86
4621.08
2461.19
8171.62
3038.05
2034.11
1069.62
15306.62
14829.90
604.25
2027.48
193.08
735.10
1657.02
5233.22
1053.32
6017.30
1796.25
559.20
Total
239667.65
LIC
1809.74
504.75
236.13
7337.95
128.41
2551.40
1632.12
5599.02
1497.88
495.43
585.12
9974.49
9337.80
351.84
1382.72
70.66
157.09
1180.04
3295.28
579.12
3315.20
1239.36
351.69
312.05
629.93
498.52
5529.16
38.44
2069.69
829.06
2572.60
1540.18
1538.67
484.50
5332.13
5492.10
252.41
644.75
122.42
578.01
476.98
1937.94
474.20
2702.10
556.89
207.50
PRIVATE TOTAL
18.14
225.06
2198.44
273.46
3330.72
SBI LIFE
28.10
98.59
16.16
SHRIRAM LIFE
10.35
1971.09
812.90
SAHARA
RELIANCE
PNB METLIFE
647.82
1924.78
MAX LIFE
226.86
758.96
478.76
4573.17
ICICI PRUDENTIAL
2564.20
1061.42
2927.90
HDFC STANDARD
6.52
KOTAK MAHINDRA
245.89
FUTURE GENERALI
215.67
1383.01
429.09
EXIDE LIFE
17.12
155.67
105.30
EDELWEISS TOKIO
399.43
INDIAFIRST
178.58
DHFL PRAMERICA
140.63
257.64
336.35
CANARA HSBC
41.57
123.73
1201.07
10.86
1.22
IDBI FEDERAL
1896.37
350.48
BIRLA SUNLIFE
BHARTI AXA
1501.02
546.04
AVIVA
BAJAJ ALLIANZ
206.28
Regular
AEGON RELIGARE
Insurer
Total Premium
36487.13
23111.52
13375.61
239.48
333.33
271.42
1950.88
10.24
1465.57
505.68
1403.26
792.40
63.93
240.34
688.27
1082.54
224.09
408.15
87.66
170.04
87.13
1231.24
344.37
1169.75
432.51
173.33
Regular
2.20
206.36
12.17
399.20
135.73
29.01
121.80
557.50
6.15
0.77
256.17
376.81
472.10
3594.03
35.45
1542.43
512.31
2012.39
1133.20
1370.69
361.96
966.98
27143.85
1179.41
220.39
203.49
3986.17
114.42
1882.93
957.21
4045.05
875.41
50.45
500.56
3175.28
3386.88
282.11
1200.77
65.56
126.70
215.96
972.86
342.90
2544.17
623.97
191.21
Renewal
48693.60
1435.58
597.20
675.59
7580.21
149.87
3425.36
1469.52
6057.44
2008.61
1421.14
862.52
4142.26
6502.94
508.40
1815.28
165.40
695.95
438.82
2233.10
809.08
4271.42
1062.62
365.31
8174.14 21549.75
16.69
43.48
200.68
1643.15
25.21
76.86
6.63
609.13
340.80
1306.77
121.62
278.71
3116.06
226.29
614.51
99.84
569.24
222.86
1260.25
466.18
1727.25
438.65
174.10
Total
(Premium in ` Crore)
Non-Linked Premium
2033.51
STATEMENT 5
126
120.17
442.68
333.97
TATA AIA
GRAND TOTAL
77359.36
2323.70
948.75
594.24
10738.60
204.63
4283.40
2240.59
7278.54
2700.79
2143.36
826.25
12428.65
12062.90
634.16
1830.67
110.90
305.86
1823.42
4833.05
872.65
5843.14
1878.10
453.00
LIC
1889.95
385.90
204.40
5673.13
139.54
2349.41
1564.70
5016.95
1428.98
462.00
510.55
8669.06
8023.97
409.26
1262.86
30.19
132.91
1215.35
3135.56
497.05
3251.11
1284.34
305.78
Total
20497.51
433.75
562.85
389.83
5065.48
65.09
1933.99
675.89
2261.60
1271.81
1681.36
315.69
3759.59
4038.93
224.90
567.81
80.72
172.95
608.07
1697.49
375.61
2592.03
593.76
147.22
PRIVATE TOTAL
99.78
201.13
2067.97
188.70
2997.51
SBI LIFE
39.93
97.74
45.45
474.17
482.74
1533.72
40.81
474.42
1683.23
49.00
73.91
13.26
64.69
308.50
58.77
80.76
993.51
12.23
3.04
Single
SHRIRAM LIFE
25.16
1836.25
630.44
SAHARA
RELIANCE
PNB METLIFE
1787.43
789.07
KOTAK MAHINDRA
MAX LIFE
147.64
INDIAFIRST
3285.17
ICICI PRUDENTIAL
274.89
2355.70
HDFC STANDARD
IDBI FEDERAL
175.90
67.46
EDELWEISS TOKIO
FUTURE GENERALI
108.27
DHFL PRAMERICA
493.90
299.56
CANARA HSBC
EXIDE LIFE
1638.72
294.85
BIRLA SUNLIFE
BHARTI AXA
1598.52
581.53
AVIVA
BAJAJ ALLIANZ
144.18
Regular
AEGON RELIGARE
Insurer
Total Premium
22.81
63.82
74.31
282.14
5.07
51.83
15.87
13.63
189.88
46.14
21.94
127.59
323.39
46.98
2.12
5.84
3.42
3.87
12.79
0.23
321.64
5.99
2.10
34.75
6939.50 1678.14
9.10
808.46
263.67
50.55
3007.39
25.41
831.88
769.10
1694.60
763.34
430.10
119.05
6033.19
5370.51
112.67
237.66
2.96
37.42
1046.72
2399.97
322.54
954.20
776.50
184.19
893.81
469.49
127.38
4292.31
30.58
1103.54
951.07
2100.24
1150.58
584.56
141.53
8361.22
6892.25
178.35
265.97
11.67
46.16
1243.06
3150.55
337.79
1416.82
850.63
216.29
Total
2684.40
348.40
357.03
313.00
3780.56
59.93
1662.33
493.91
1855.95
884.58
1526.91
293.21
1431.56
2517.19
159.21
539.49
72.01
164.21
411.72
946.91
360.36
2129.41
519.63
115.13
First year
7375.53 20942.64
76.97
56.35
126.82
1785.84
34.86
45.91
29.58
460.54
292.86
1487.57
18.87
346.83
1359.84
2.02
71.79
7.42
61.27
304.63
45.98
80.53
671.86
6.24
0.94
Single
21600.89
1081.49
122.22
153.86
2665.74
114.13
1517.53
795.60
3322.35
665.64
31.89
391.51
2635.87
2653.46
296.59
1025.21
27.23
95.49
168.64
735.60
174.51
2296.91
507.84
121.59
Renewal
42543.53
1429.89
479.26
466.85
6446.30
174.06
3179.86
1289.51
5178.30
1550.21
1558.80
684.72
4067.43
5170.66
455.81
1564.70
99.23
259.70
580.36
1682.50
534.87
4426.32
1027.47
236.72
Total
13567.11
271.43
300.69
186.18
1994.72
25.07
1616.43
464.33
1395.41
591.72
39.33
274.34
1084.72
1157.35
157.19
467.70
64.59
102.95
107.09
900.92
279.83
1457.55
513.39
114.19
Regular
(Premium in ` Crore)
Non-Linked Premium
43.85
85.35
205.82
76.84
1284.92
5.16
271.66
181.97
405.64
387.24
154.45
22.48
2328.04
1521.74
65.68
28.32
8.71
8.74
196.34
750.58
15.25
462.62
74.14
32.10
6930.40 1643.39
62.54
142.00
2.53
1002.79
0.09
219.83
166.10
392.02
197.35
108.31
0.55
2200.45
1198.35
18.70
26.20
2.87
5.32
192.47
737.79
15.02
140.98
68.15
30.00
Regular
Linked Premium
Contd... STATEMENT 5
23
246
Bharti Axa
Birla Sunlife
127
Claims paid
Claims repudiated /
rejected
Claims written
back
Claims pending
at end of the
period
2.63
2.44
29.87
14.48
8.59
9.65
1.32
15.35
3.73
20.04
1.99
23.33
0.80
0.00
1606
932
12186
12095
1929
3226
105
490
560
8207
1087
20089
1680
460
46.72
41.98
413.63
387.55
36.56
79.79
12.15
15.27
32.38
299.24
47.58
406.21
148.50
35.76
1655
100%
971
100%
12309
100%
12189
100%
2160
100%
3432
100%
119
100%
953
100%
576
100%
8453
100%
1110
100%
20661
100%
1683
100%
460
100%
1059 45.33
5.13% 10.55%
23.47
7.35%
42
4.93
7.29% 13.65%
255
3.02%
667 76.50
5.42% 17.25%
883 84.96
7.24% 21.13%
49.35
1195
29.82
378 13.78
100% 72.21% 60.43% 22.84% 27.92%
44.42
736
31.49
191
9.44
100% 75.80% 70.90% 19.67% 21.26%
45.15
1808
30.94
314 10.67
100% 83.70% 68.53% 14.54% 23.63%
89.44
2955
60.14
421 24.52
100% 86.10% 67.24% 12.27% 27.41%
13.47
68
7.24
45
5.20
100% 57.14% 53.76% 37.82% 38.58%
30.62
545
14.94
338 12.61
100% 57.19% 48.80% 35.47% 41.19%
36.11
516
28.81
100% 89.58% 79.77%
319.28
8056 278.08
100% 95.30% 87.10%
49.57
898
35.16
180
11.13
100% 80.90% 70.92% 16.22% 22.45%
149.30
1398 107.48
276 39.76
100% 83.07% 71.99% 16.40% 26.63%
35.76
413
30.73
46
5.14
100% 89.78% 85.93% 10.00% 14.38%
0
-
0
-
0.00
-
0.00
-
0.00
-
8
0.23%
0
-
15.00
1.57%
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.75
0.83%
0.00
-
0.65
2.14%
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
0
4
33
2
7.84% 86.84% 5.26%
4
31
17
4.52% 64.58% 35.42%
1
5
1
7.66% 83.33% 16.67%
3
43
7.84% 97.73%
14
65
29
3.19% 67.71% 30.21%
82
6
76
2
4.95% 11.65% 92.68% 2.44%
44
4.53%
96
0.78%
1
2
5.56% 11.11%
2
36
1.41% 25.35%
> 1 yr
4
4.88%
1
1.04%
3
7.89%
1
2.27%
1
1.04%
2
30
10
9
6
7.88% 54.55% 18.18% 16.36% 10.91%
2
11
4
6.59% 61.11% 22.22%
18
98
6
5.55% 69.01% 4.23%
3
31
1
6.63% 96.88% 3.13%
36
616
8
8.47% 98.72% 1.28%
2
9
1.38% 100.00%
275
54
218
57
2.26% 13.32% 79.27% 20.73%
38
1.76%
48
1.40%
6
5.04%
55
5.77%
18
3.13%
142
1.68%
32
2.88%
624
3.02%
9
0.53%
1
0
1
0.22% -0.31% 100.00%
3 - < 6 6 - <1 yr
mths
82
100%
44
100%
96
100%
275
100%
38
100%
48
100%
6
100%
55
100%
18
100%
142
100%
32
100%
624
100%
9
100%
1
100%
Total
STATEMENT 6
Note: 1) First row across each insurer shows the absolute figures whereas second row shows percentage of the respective total claims.
2. All the cases where policy claim cannot be considered due to inadmissibility of a claim resulting from the policy conditions shall be classified as rejected while the claims which
cannot be considered due to misstatement, misrepresentation etc. coming under the purview of Section 45 of the Insurance Act, 1938 shall be classified as repudiated.
49
123
ICICI Prudential
India First
94
HDFC Standard
39
231
Future Generali
IDBI Federal
206
14
Edelweiss Tokio
Exide Life
463
DHFL Pramerica
16
572
Aviva
Bajaj Allianz
Total Claims
Aegon Religare
Life Insurer
1505
Reliance Life
128
Claims paid
Claims repudiated /
rejected
Claims written
back
3962
8496
LIC
Industry Total
3727
1257
1770
14348
762
16637
2458
9145
2637
92.03
36.85
53.80
339.08
6.89
278.02
108.59
261.93
83.64
3873
100%
1266
100%
1960
100%
14876
100%
778
100%
18142
100%
2466
100%
9149
100%
2686
100%
10.03
8.42%
14.71
5.61%
7.49
8.52%
27.97
7.67%
0.45
6.29%
98.58
3659
88.27
177
100% 94.47% 89.54% 4.57%
37.12
1191
33.98
71
100% 94.08% 91.54% 5.61%
7.84
7.95%
2.81
7.58%
61.49
1287
31.49
453
18.51
100% 65.66% 51.21% 23.11% 30.10%
7.10
700
6.38
50
100% 89.97% 89.84% 6.43%
119.03
2290 102.00
137
100% 92.86% 85.70% 5.56%
262.27
8786 245.46
357
100% 96.03% 93.59% 3.90%
87.85
2437
72.17
162
100% 90.73% 82.15% 6.03%
701.69
5.41%
194.93
2.06%
6.55
0.27
7.69
25.69
0.21
33.35
10.44
0.34
4.21
1342
0.15%
1317
0.17%
25
0.02%
0.00
-
0.00
-
0.00
-
0
-
0
-
0
-
2
0.08%
0.00
-
0.00
-
470
3.16%
28
3.60%
24.41
0.19%
22.75
0.24%
1.66
0.05%
0.00
-
0.00
-
7061
0.80%
3652
0.48%
3409
2.80%
37
0.96%
4
0.32%
> 1 yr
Total
31
320
8.61% 68.09%
37
100%
6
100%
28
100%
5
2.27%
4
100%
12
220
5.45% 100%
24
87
470
5.11% 18.51% 100%
77
197 1050
7.33% 18.76% 100%
269
7.89%
146
389 3409
4.28% 11.41% 100%
453.15
3284
992
1297
1488 7061
3.49% 46.51% 14.05% 18.37% 21.07% 100%
208
679
723
1151
1099 3652
2.19% 18.59% 19.80% 31.52% 30.09% 100%
245.52
2605
7.04% 76.42%
2
15
5
4
13
37
2.51% 40.54% 13.51% 10.81% 35.14% 100%
0
1
3
0.89% 25.00% 75.00%
14
6.36%
39
8.30%
0
18
10
3.87% 64.29% 35.71%
43
4.10%
7
29
8
5.66% 78.38% 21.62%
2
5
1
0.80% 83.33% 16.67%
8
28
9
16
34
87
9.33% 32.18% 10.34% 18.39% 39.08% 100%
1050
33
733
5.79% 10.56% 69.81%
37
1.50%
6
0.07%
87
3.24%
0.00
220
11
189
- 11.22% 18.69% 85.91%
0.00
-
0.00
-
0.00
-
0.26
0.22%
0.00
-
0.00
-
3 - < 6 6 - <1 yr
mths
Contd... STATEMENT 6
Note: 1) First row across each insurer shows the absolute figures whereas second row shows percentage of the respective total claims.
2. All the cases where policy claim cannot be considered due to inadmissibility of a claim resulting from the policy conditions shall be classified as rejected while the claims which
cannot be considered due to misstatement, misrepresentation etc. coming under the purview of Section 45 of the Insurance Act, 1938 shall be classified as repudiated.
4534
146
Private Total
Tata AIA
190
Shriram
Star Union
528
SBI Life
16
49
Sahara
Total Claims
Max Life
Kotak Mahindra
Old Mutual
Life Insurer
Claims pending
at end of the
period
129
22
ICICI Prudential
56
3617
2.13
0.35
5.32
0.00
20.81
0.24
0.03
0.07
0.00
0.00
3130
1041
2312
5022
125
306
636
3756
428
1768
136
14.09 109468
0.00
0.00
3617
100%
3
100%
53.59
11.61
74.73
58.33
17.78
2.75
6.08
11.35
3.48
89.73
13.45
3186
100%
1043
100%
2334
100%
5022
100%
12591
100%
309
100%
642
100%
3789
100%
428
100%
1768
100%
136
100%
55.72
100%
11.96
100%
80.05
100%
58.33
100%
38.59
100%
2.98
100%
6.11
100%
23.05
5.46%
0.49
3.46%
0.00
-
0.66
5.52%
2.55
3.18%
5.46
9.36%
0.10
0.26%
0.01
0.34%
0.05
0.87%
0.53
4.65%
0.29
8.25%
0.00
-
2750
42.70
408
11.97
86.32% 76.63% 12.81% 21.49%
1035
10.92
7
99.23% 91.36% 0.67%
2308
75.55
18
98.89% 94.38% 0.77%
4957
52.86
65
98.71% 90.62% 1.29%
154
20.38
2
1.22% 52.81% 0.02%
308
2.97
1
99.68% 99.66% 0.32%
632
5.88
2
98.44% 96.17% 0.31%
42
1.11%
414
3.19
13
96.73% 91.67% 3.04%
0
-
112
10.08
24
3.38
82.35% 74.91% 17.65% 25.09%
107194 389.57
2352
97.57% 92.36% 2.14%
11.42 3315.00
8.63
100% 87.49% 75.55%
3.48
100%
0
-
No of Benefit
Lives Amount
3523
13.73
94
97.40% 96.54% 2.60%
89.73
1768
89.73
100% 100.00% 100.00%
13.45
100%
421.77
100%
14.22
100%
0.27
3
0.27
100% 100.00% 100.00%
Benefit
Amount
Claims paid
No of Benefit No of
Lives Amount Lives
Total Claims
407.68 109869
100%
14.22
0.27
Claims
intimated /
booked
No of Benefit
Lives Amount
Claims
repudiated /
rejected
Break up of claims pending duration wise (Lives)
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
0
0.00
1
0.09%100.00%
0.00
0.00
0.00%
9.16
309
2.17% 95.67%
0.00
0.00%
0.00
28
0.88%
1
0.10%
8
0.34%
17
3.94%
14
4.33%
0.00
0.00%
3
0.02%
0
0%
8
100%
432
100%
1
100%
0
0%
0
0%
323
100%
0
0%
0
0%
0
0%
3 12421 12435
0.02% 99.89% 100%
1.05
24
1.89% 85.71%
0.37
1
3.12%100.00%
4
14.29%
28
100
1
100%
1.96
2
1
1
4
8
2.44% 25.00% 12.50% 12.50% 50.00% 100%
0.01
0.02%
8
0.06%
0.18
6
2
2.96% 75.00% 25.00%
12435
18.11
98.76% 46.93%
8
1.25%
432
2.26
415
11.40% 19.80% 96.06%
1
0.23%
323
0.29%
Total
STATEMENT 7
Claims pending
Claims written
at end of the
back
period
Note: 1) First row across each insurer shows the absolute figures whereas second row shows percentage of the respective total claims.
India First
HDFC Standard
IDBI Federal
12466
Exide Life
Future Generali
Edelweiss Tokio
33
Birla Sunlife
DHFL Pramerica
Bharti Axa
401
Aviva
Bajaj Allianz
No of Benefit
Lives Amount
Aegon Religare
Life Insurer
Claims pending
at start of the
period
130
82
Tata AIA
14158
928
62.79
7.87
54.92
3.04
0.00
0.00
6.53
0.00
0.13
0.01
0.00
2.17
29.22
22.24
67.21
298.80
0.01
33.11
91.98
47.36
196.52
1072
100%
907
100%
6353
100%
10603
100%
1
100%
2225
100%
1605
100%
6088
100%
19398
100%
32.26
988
27.26
100% 92.16% 84.49%
22.24
901
21.57
100% 99.34% 96.99%
67.21
6353
67.21
100% 100.00% 100.00%
0.01
1
0.01
100% 100.00% 100.00%
33.25
2221
33.17
100% 99.82% 99.76%
91.98
1593
91.57
100% 99.25% 99.55%
47.36
6045
43.15
100% 99.29% 91.11%
Benefit
Amount
Claims paid
No of Benefit No of
Lives Amount Lives
Total Claims
990
907
6353
10475
2219
1604
6088
19374
Claims
intimated /
booked
No of Benefit
Lives Amount
3570
0.76%
98
0.04%
3472
1.80%
48
4.48%
6
0.66%
0
-
255
2.40%
0
-
1
0.04%
8
0.50%
42
0.69%
84
0.43%
75.67
2.07%
0.40
0.02%
75.27
4.69%
3.08
9.56%
0.48
2.15%
0.00
-
14.45
4.73%
0.00
-
0.02
0.06%
0.19
0.21%
3.68
7.78%
4.83
2.43%
No of Benefit
Lives Amount
Claims
repudiated /
rejected
Break up of claims pending duration wise (Lives)
0
-
0
-
0
-
0
-
0.00
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
0.00
-
14388
3.08%
885
0.32%
13503
7.00%
36
3.36%
179
1.69%
3
0.13%
4
0.25%
1
0.02%
44
0.23%
930
63
6.89% 0.47%
54.90
1526
281
1.50% 10.61% 1.95%
7.31
596
218
0.36% 67.34% 24.63%
47.59
2.96%
4
100%
1
100%
0
0%
1
3
33.33% 100%
36
100%
0
0%
0
0%
61
885
6.89% 100%
45 12536 14388
0.31% 87.13% 100%
10
1.13%
35 12475 13503
0.26% 92.39% 100%
13
29
179
7.26% 16.20% 100%
1.92
27
3
6
5.95% 75.00% 8.33% 16.67%
0.19
0.86%
0.00
8.46
121
16
2.77% 67.60% 8.94%
0.00
0.06
2
0.18% 66.67%
0.22
4
0.24% 100.00%
0.53
1
1.11% 100.00%
3.10
9
7
12
16
44
1.56% 20.45% 15.91% 27.27% 36.36% 100%
Total
Contd... STATEMENT 7
Claims pending
Claims written
at end of the
back
period
Note: 1) First row across each insurer shows the absolute figures whereas second row shows percentage of the respective total claims.
Industry Total
LIC
13230
Star Union
Private Total
Sahara
Shriram
Reliance Life
128
SBI Life
24
No of Benefit
Lives Amount
Max Life
Kotak Mahindra
Old Mutual
Life Insurer
Claims pending
at start of the
period
131
IDBI FEDERAL
303.34
449.79
21720.20
24584.24
966.66
127.99
141.66
2447.47
131.28
1979.05
237.70
1915.00
751.17
147.90
249.78
4571.01
3131.98
216.91
643.99
397.97
74.48
125.70
476.38
127.88
2588.74
386.63
49.76
6.55
1.64
107.20
182.93
31.21
144.69
0.00
92.68
171.12
1.25
0.00
186.52
279.76
2.33
92.88
20.33
3.33
72.47
103.36
32.59
136.11
0.01
35.94
24488.24
27444.61
770.83
170.72
241.70
3449.26
96.96
1038.34
346.39
2544.62
860.33
143.12
466.51
4590.95
4159.49
327.09
766.16
404.92
120.27
70.36
552.11
250.88
2901.38
246.97
64.87
26193.14
8649.13
1216.79
174.37
207.34
2371.24
214.28
1512.54
1004.42
2494.00
809.36
86.09
561.62
2630.83
2599.40
362.38
887.46
108.04
105.36
304.91
735.58
86.09
2767.15
416.83
64.12
LIC
7352.49
1702.44
244.20
203.20
3365.59
244.14
1512.09
1285.19
2832.14
865.47
132.44
575.95
3500.40
3513.82
378.92
1180.56
74.19
302.81
395.34
1079.14
149.64
3200.89
596.10
109.97
INDUSTRY TOTAL 623292.85 518824.47 328728.88 255469.45 174510.99 155025.90 342583.28 329787.31
52889.29
330.11
106.73
86.32
983.98
167.47
1117.91
164.35
1183.00
570.76
40.74
115.54
909.16
565.74
225.67
175.63
0.00
20.30
31.19
75.41
49.64
1542.94
181.85
4.69
Other Investments
1704.90
74394.02
325.94
86.35
118.40
889.25
188.71
827.34
154.09
1289.68
192.40
61.41
151.00
527.10
292.74
195.47
165.87
0.00
20.27
31.35
77.96
186.45
1427.01
139.02
4.68
Approved
Investments
8684.36
1188.20
1094.16
17010.24
851.01
5998.86
5209.91
16989.97
5016.37
661.47
2262.76
19236.91
16313.07
1461.60
4782.46
668.30
1023.08
1402.72
3808.17
897.81
17546.85
2838.85
533.10
7234.17
859.88
747.74
12062.24
838.86
7142.07
4050.53
13137.00
3770.98
547.84
1614.22
15474.86
12331.57
1238.45
4020.04
618.02
429.82
1115.32
3002.85
555.88
13869.82
2205.62
357.56
12.69
1.00
6.15
115.62
22.49
85.66
0.00
40.00
0.31
1.25
0.14
761.79
240.40
0.32
268.35
18.20
4.06
0.00
208.40
21.76
248.80
0.01
22.21
31.3.2014
(` Crore)
STATEMENT 8
Infrastructure
Investments
21887.09
PRIVATE TOTAL
4707.91
685.29
5878.60
TATA AIA
306.27
6143.93
423.66
289.99
9123.22
SAHARA
SBI LIFE
2446.90
SHRIRAM LIFE
2476.41
RELIANCE
7505.00
2644.06
10230.86
3424.25
1639.38
2927.05
687.14
271.86
323.25
1069.31
PNB METLIFE
MAX LIFE
KOTAK MAHINDRA
INDIAFIRST
6602.07
5794.04
8067.26
10431.94
HDFC STANDARD
ICICI PRUDENTIAL
433.17
557.79
FUTURE GENERALI
93.80
2044.60
168.86
EDELWEISS TOKIO
2576.99
225.63
576.39
DHFL PRAMERICA
EXIDE LIFE
653.52
833.20
1507.08
1995.60
BIRLA SUNLIFE
270.51
CANARA HSBC
278.25
1220.31
1856.75
9881.46
AVIVA
BAJAJ ALLIANZ
6722.18
216.79
BHARTI AXA
317.64
AEGON RELIGARE
Insurer
Central Government
Securities
LIFE FUND
132
130.83
72114.24
85826.06
81411.04
99662.23
LIC
INDUSTRY TOTAL
209.68
262.92
13711.82
267.38
282.34
61.63
6361.93
7689.10
68.72
2.69
2.68
260.8245
106.84
117.00
18251.19
PRIVATE TOTAL
TATA AIA
SHRIRAM LIFE
SBI LIFE
SAHARA
305.6002
PNB METLIFE
RELIANCE
323.86
MAX LIFE
88.91
923.42
1445.47
171.18
35.32
1475.25
1050.46
49.95
56.25
KOTAK MAHINDRA
INDIAFIRST
IDBI FEDERAL
1794.90
2138.75
HDFC STANDARD
ICICI PRUDENTIAL
420.69
573.28
101.21
EXIDE LIFE
FUTURE GENERALI
4.95
14.83
34.78
EDELWEISS TOKIO
314.86
243.69
128.78
CANARA HSBC
428.92
35.70
1197.85
259.96
2.84
31.3.2014
728.60
48.98
1383.15
352.33
3.74
31.03.2015
DLF PRAMERICA
BIRLA SUNLIFE
BHARTI AXA
BAJAJ ALLIANZ
AVIVA
AEGON RELIGARE
Insurer
101825.33
96910.06
4915.27
36.9600
115.99
13.11
2337.14
0.00
165.82
5.99
56.99
42.30
544.17
53.58
257.57
599.15
52.83
103.65
0.00
5.02
83.40
85.25
18.77
336.22
1.02
0.35
31.03.2015
78481.50
73764.87
4716.63
66.1477
120.92
11.14
2239.23
0.00
125.45
60.41
11.00
15.33
428.78
38.11
368.44
616.93
39.20
103.19
0.00
5.02
73.34
54.17
3.02
267.24
69.21
0.35
31.3.2014
187985.02
165491.47
22493.55
279.05
375.64
110.36
8927.19
0.43
569.74
85.86
190.22
140.96
1751.33
131.10
1465.21
3374.96
159.75
681.59
7.38
134.48
433.57
1027.61
87.82
2246.41
312.65
0.23
31.03.2015
173271.88
152938.98
20332.90
340.12
340.56
93.15
8934.53
0.50
471.85
179.13
38.00
89.53
1426.87
42.10
1770.49
2340.93
103.34
662.47
0.41
20.62
512.53
639.79
41.46
1990.32
293.96
0.25
31.3.2014
Approved Investments
389472.57
343812.57
45660.00
578.93
773.97
192.19
18953.43
3.11
1041.15
222.68
571.07
354.44
3740.97
240.93
3861.53
5769.01
313.79
1358.52
22.21
268.28
760.66
1841.46
155.57
3965.78
666.01
4.32
31.03.2015
337579.44
298818.10
38761.34
615.94
728.87
165.92
17535.69
3.19
858.13
346.38
166.00
193.77
2779.07
115.52
3614.17
4008.32
192.49
1186.35
5.36
60.41
900.73
1122.87
80.18
3455.41
623.12
3.45
31.3.2014
(` Crore)
Contd STATEMENT 8
2351.29
2310.07
133
28375.79
33994.08
LIC
INDUSTRY TOTAL
322455.98
93146.03
352371.44
81404.95
9375.43
229309.96
270966.49
10021.27
PRIVATE TOTAL
TATA AIA
2758.12
3389.13
956.22
1027.09
SHRIRAM LIFE
SBI LIFE
329.16
267.99
SAHARA
6370.63
9943.60
7273.07
8293.98
10883.00
PNB METLIFE
12742.31
RELIANCE
MAX LIFE
2765.26
3490.13
9048.67
INDIAFIRST
KOTAK MAHINDRA
7918.87
1652.50
57861.06
33212.03
906.45
1743.13
IDBI FEDERAL
43332.60
73437.94
HDFC STANDARD
ICICI PRUDENTIAL
FUTURE GENERALI
865.71
54.69
EDELWEISS TOKIO
EXIDE LIFE
26.05
249.54
229.93
6205.00
7239.68
CANARA HSBC
DLF PRAMERICA
1729.92
19963.29
19330.88
1741.65
5219.73
945.76
31.3.2014
23348.63
BIRLA SUNLIFE
BHARTI AXA
20429.20
5536.92
AVIVA
BAJAJ ALLIANZ
1129.02
31.3.2015
Approved Investments
AEGON RELIGARE
Insurer
10369.03
1266.15
9102.88
238.42
33.49
36.59
815.99
3.54
493.77
30.54
657.26
631.44
105.36
13.42
1339.59
1587.72
12.84
158.71
4.92
1.91
380.33
1046.77
167.20
1215.84
80.94
46.28
31.3.2015
9205.18
1332.57
7872.61
179.46
44.38
66.23
221.49
5.61
340.45
161.67
447.00
120.15
68.13
6.08
2449.37
701.47
25.41
149.76
1.21
5.46
139.47
1220.00
51.90
1324.31
114.91
28.69
31.3.2014
Other Investments
362740.47
82671.10
280069.37
10259.69
3422.62
1063.68
34810.07
271.53
8787.75
7303.62
13399.57
9680.11
3595.49
1756.55
74777.54
44920.32
878.55
2468.78
59.61
251.44
7620.01
24395.40
1908.85
21645.04
5617.85
1175.31
31.3.2015
331661.16
94478.59
237182.57
9554.90
2802.49
1022.45
28597.28
334.77
10284.05
6532.30
11330.00
8039.02
2833.39
1658.58
60310.43
33913.51
931.86
2501.05
27.26
235.39
6344.47
20550.87
1781.82
21287.60
5334.64
974.45
31.3.2014
2247522.18
1786312.55
461209.63
19522.98
5384.79
2350.03
70773.75
1125.65
15827.76
12736.20
30960.61
15050.92
7997.93
4260.24
97875.98
67002.40
2653.94
8609.76
750.13
1542.80
9783.39
30045.03
2962.23
43157.67
9122.71
1712.73
31.3.2015
1957465.57
1574296.34
383169.24
17405.01
4391.25
1936.11
58195.20
1176.82
18284.25
10929.21
24633.00
12003.77
6160.30
3388.32
79399.46
50253.39
2362.80
7707.43
650.64
725.62
8360.51
24676.59
2417.88
38612.83
8163.39
1335.46
31.3.2014
(` Crore)
Contd STATEMENT 8
As on
31st March,
2015
Foreign
Promoter
1307.00
3.50
1310.50
340.73
969.77
26.00%
2004.90
0.00
2004.90
521.27
1483.63
26.00%
150.71
-0.01
150.70
39.18
111.52
26.00%
BHARTI AXA
1978.20
137.50
2115.70
470.15
1645.55
22.22%
BIRLA SUNLIFE
1901.21
0.00
1901.21
494.31
1406.90
26.00%
CANARA HSBC
950.00
0.00
950.00
247.00
703.00
26.00%
DHFL PRAMERICA
340.38
33.69
374.06
97.26
276.80
26.00%
EDELWEISS TOKIO
180.29
0.00
180.29
46.87
133.41
26.00%
EXIDE LIFE
1600.00
150.00
1750.00
0.00
1750.00
0.00%
FUTURE GENERALI
1452.00
0.00
1452.00
370.26
1081.74
25.50%
HDFC STANDARD
1994.88
0.00
1994.88
518.67
1476.21
26.00%
ICICI PRUDENTIAL
1429.26
2.46
1431.72
370.78
1060.94
25.90%
IDBI FEDERAL
800.00
0.00
800.00
208.00
592.00
26.00%
INDIAFIRST
475.00
0.00
475.00
123.50
351.50
26.00%
KOTAK MAHINDRA
510.29
0.00
510.29
132.68
377.61
26.00%
MAX LIFE
1944.69
-25.88
1918.81
498.89
1419.92
26.00%
PNB METLIFE
2012.88
0.00
2012.88
523.35
1489.53
26.00%
RELIANCE
1196.32
0.00
1196.32
311.04
885.28
26.00%
SAHARA
232.00
0.00
232.00
0.00
232.00
0.00%
SBI LIFE
1000.00
0.00
1000.00
260.00
740.00
26.00%
SHRIRAM LIFE
175.00
4.37
179.37
0.00
179.37
0.00%
250.00
0.00
250.00
65.00
185.00
26.00%
1953.50
0.00
1953.50
507.91
1445.59
26.00%
25838.51
305.63
26144.14
6146.87
19997.27
23.51%
100.00
0.00
100.00
0.00
100.00
0.00%
25938.51
305.63
26244.14
6146.87
20097.27
23.42%
Insurer
As on
31st March,
2014
AEGON RELIGARE
AVIVA
BAJAJ ALLIANZ
TATA AIA
Total (Private Sector)
LIC
Total (Life)
134
Indian
Promoter
FDI (%)
30/06/14
30/09/14
31/12/14
31/03/15
1.95
1.94
1.61
2.03
4.09
4.04
3.74
3.80
7.86
8.03
7.78
7.61
2.03
1.79
1.63
2.07
2.08
2.13
2.23
2.05
3.66
3.97
3.15
3.16
12.50
12.42
12.56
12.69
2.08
2.16
1.96
2.54
3.12
2.98
2.86
2.91
10
1.92
2.04
1.87
1.96
11
3.84
3.57
3.70
3.37
12
4.76
5.53
6.03
5.07
13
2.32
2.18
2.12
2.03
14
2.24
2.77
2.69
2.90
15
LIC OF INDIA
1.52
1.53
1.51
1.55
16
5.00
4.87
4.69
4.25
17
2.43
2.48
2.40
2.19
18
3.06
2.98
3.01
3.13
19
4.28
4.14
4.12
3.55
20
6.20
6.91
5.65
Not Available
21
2.28
2.35
2.27
2.16
22
6.59
5.10
5.18
4.15
23
2.18
2.31
2.30
2.51
24
4.33
4.58
4.40
4.17
135
136
467.65
(6453.98)
2439.41
4198.06
2498.64
2781.48
11917.59
(13.59)
12385.24
(17.97)
-338.52
338.52
-----0.00
--12723.76
(21.19)
7.14
---0.00
---
---0.00
--10499.02
(0)
2227.73
3493.05
2247.10
2524.00
10491.88
-10499.02
141.96
----28.13
70.51
--77.46
71.13
--78.46
--
2001-02
------5.83
--1.07
0.24
-----
2000-01
--15245.02
(19.82)
---0.00
(10.71)
--
(20.06)
-374.78
374.78
1349.80
(188.64)
2869.87
4812.79
2868.15
2969.63
13520.44
(13.45)
14870.25
296.48
-14.79
-9.49
211.66
213.33
--185.68
184.44
--233.93
--
2002-03
--17357.18
(13.85)
---0.00
(117.38)
--
(11.25)
369.21
445.48
814.70
2257.83
(67.27)
3399.97
4921.47
2899.74
3063.47
14284.65
(5.65)
16542.49
476.53
-97.05
-112.95
486.73
322.24
--161.06
257.76
--343.52
--
2003-04
--19521.71
(12.47)
---0.00
(30.76)
--
(11.57)
549.72
515.55
1065.26
3507.62
(55.35)
3810.65
5103.16
3090.55
2944.46
14948.82
(4.65)
18456.45
851.62
-169.25
-175.63
873.86
496.64
--161.68
330.70
--448.24
--
2004-05
--22472.27
(15.11)
---0.00
(6.37)
--
(15.62)
555.83
577.33
1133.17
5362.66
(52.89)
3536.34
5675.54
3609.77
3154.78
15976.44
(6.87)
21339.10
1272.29
-220.18
-200.94
1582.86
892.72
--162.33
458.64
--572.70
--
2005-06
Note: Figures in the bracket represents the growth over the previous year in per cent.
-- represents business not started.
GRAND TOTAL
APOLLO MUNICH
CIGNA TTK
MAX BUPA
RELIGARE HEALTH
STAR HEALTH
STANDALONE
HEALTH INSURERS
AIC
ECGC
SPECIALISED
INSURERS
PUBLIC &
PRIVATE TOTAL
NATIONAL
NEW INDIA
ORIENTAL
UNITED
PUBLIC SECTOR
BAJAJ ALLIANZ
BHARTI AXA
CHOLAMANDALAM
FUTURE GENERALI
HDFC ERGO
ICICI LOMBARD
IFFCO TOKIO
L&T
RAHEJA QBE
RELIANCE
ROYAL SUNDARAM
SBI
SHRIRAM
TATA AIG
UNIVERSAL SOMPO
MAGMA HDI
LIBERTY VIDEOCON
PRIVATE SECTOR
INSURER
(0)
27134.86
(20.75)
--22.51
22.51
(4.34)
--
(21.51)
564.67
617.66
1182.33
8646.57
(61.24)
3827.12
5936.78
4020.78
3498.77
17283.45
(8.18)
25930.02
1786.34
-311.73
-194.00
2989.07
1144.47
--912.23
598.20
--710.55
--
2006-07
660.34
(660.34)
30480.23
(12.33)
--168.19
171.16
(27.16)
2.97
(11.09)
835.11
668.37
1503.47
10991.89
(27.12)
4021.97
6151.97
3900.22
3739.56
17813.71
(3.07)
28805.60
2379.92
-522.34
9.81
220.60
3307.12
1128.15
--1946.42
694.41
--782.64
0.48
2007-08
226.02
(226.02)
33564.52
(10.12)
--509.86
558.01
(4.96)
48.14
(9.11)
833.44
744.68
1578.12
12321.09
(12.09)
4295.85
6455.79
4077.89
4277.77
19107.31
(7.26)
31428.40
2619.29
28.50
685.44
186.49
339.21
3402.04
1374.06
--1914.88
803.36
-113.76
823.92
30.14
2008-09
92.91
(92.91)
39225.68
(16.87)
0.13
-961.65
1076.44
(47.86)
114.66
(13.96)
1520.40
813.00
2333.39
13977.00
(13.44)
4645.99
7099.14
4854.67
5239.05
21838.85
(14.30)
35815.85
2482.33
310.82
784.85
376.61
915.40
3295.06
1457.84
-1.32
1979.65
913.11
-416.93
853.80
189.28
2009-10
42.67
(42.67)
48213.12
(22.91)
25.53
-1227.55
1535.77
(21.52)
282.69
(22.41)
1950.05
885.47
2835.52
17424.63
(24.67)
6245.17
8225.51
5569.88
6376.66
26417.21
(20.96)
43841.84
2869.96
553.90
967.99
600.16
1279.91
4251.87
1783.18
17.24
4.90
1655.43
1143.99
43.02
780.89
1173.09
299.10
2010-11
2012-13
8.08
(8.08)
59819.96
(24.07)
99.08
-1085.06
1659.78
(26.31)
475.64
(24.49)
2576.85
1004.83
3581.68
4.00
(4)
71203.38
(19.03)
207.22
38.79
860.21
1726.21
(24.37)
619.99
(19.14)
3297.42
1157.25
4454.67
3286.62
4001.4
884.00
1218.43
1346.54
1620.89
919.76
1105.39
1839.46
2453.2
5150.14
6133.99
1975.24
2565.03
143.40
182.07
14.79
21.3
1712.55
2010.01
1479.79
1560
250.14
770.85
1266.44
1541.38
1641.57
2135.08
404.58
534.35
0.00
95.14
0.00
2.19
22315.03
27950.70
(28.07)
(25.26)
7815.69 9194.6122
10073.88 11873.4881
6194.60 6737.6574
8179.29 9266.0376
32263.46 37071.7953
(22.13)
(14.90)
54578.49 65022.4953
2011-12
30.05
(30.05)
79934.14
(12.26)
(5.48)
692.47
0.33
308.85
152.30
1091.07
2245.02
(12.12)
3395.00
1303.72
4698.72
4516.44
1423.15
1855.11
1262.55
2906.98
6856.16
2930.92
253.78
23.23
2388.82
1437.04
1187.57
1510.59
2362.71
540.44
424.93
129.81
32010.30
(14.52)
10260.96
13727.6
7282.53
9708.93
40980.06
(10.54)
72990.36
2013-14
31.07
(31.07)
87151.24
(9.03)
(-12.7)
803.12
21.82
372.65
275.80
1469.19
2942.58
(9.74)
2739.69
1362.39
4102.08
5229.84
1457.06
1890.43
1438.24
3182.2
6677.79
3329.96
331.71
21.62
2715.83
1569.2
1576.9
1496.51
2714.13
701.1
473.59
283.85
35089.96
(9.59)
11282.62
15480.35
7561.92
10691.73
45016.62
(9.85)
80106.58
2014-15
(` Crore)
STATEMENT 11
PRIVATE INSURERS
BAJAJ ALLIANZ
BHARTI AXA
CHOLAMANDALAM
FUTURE GENERALI
HDFC ERGO
ICICI LOMBARD
IFFCO TOKIO
L&T
RAHEJA QBE
RELIANCE
ROYAL SUNDARAM
SBI
SHRIRAM
TATA AIG
UNIVERSAL SOMPO
MAGMA HDI
LIBERT VIDEOCON
PRIVATE INSURER TOTAL
PUBLIC INSURER
NATIONAL
NEW INDIA
ORIENTAL
UNITED
PUBLIC INSURER TOTAL
STANDALONE HEALTH INSURERS
APOLLO MUNICH
CIGNA TTK
MAX BUPA
RELIGARE
STAR HEALTH
STANDALONE HEALTH INSURERS TOTAL
SPECIALISED INSURERS
ECGC
AIC
SPECIALISED INSURERS TOTAL
Grand Total
"Insurer/Segments"
38833
8051
10990
11738
32073
48702
21343
3375
46
17796
6717
44613
1106
31246
10716
1557
947
289850
87816
141177
98447
118974
446413
736263
92133
164489
96161
125149
477932
805654
2013-14
43098
7793
12434
13312
37469
54474
23240
4181
62
18932
7958
51469
1595
34863
11924
2978
1941
327722
2014-15
Fire
137
302006
29859
66528
39793
52673
188853
12308
3,206
6413
5779
10669
24643
11394
946
4599
3403
1,751
76
24905
1,614
1,081
367
113153
2014-15
316180
33350
71146
45856
58728
209081
12210
3,352
6494
5117
8745
25176
11741
833
1
4044
3107
994
94
22668
1,816
594
112
107099
2013-14
Marine
3737932
517748
536601
286170
416917
1757436
291838
109,352
127909
82810
105165
341581
214197
20,486
42
164254
115943
53,865
146,131
122458
25,130
40,119
19,216
1980497
2014-15
3382275
483897
460461
263863
370985
1579206
269985
105,227
124971
70635
100406
321380
176173
13,753
65
144465
102246
46,533
148,104
107403
23,175
38,849
9,701
1803069
2013-14
Motor
2263626
80313
2183
37266
27580
146919
294261
389597
412739
220022
340887
1363245
79751
17,623
23797
18930
94285
155049
39008
4,856
32
51970
24205
38,694
562
37928
13,891
134
5,405
606120
2014-15
1963430
69247
34
30885
15231
109108
224505
317691
348474
203850
286847
1156861
79783
18,825
25361
18255
91622
168379
31582
4,869
47
49962
25525
20,266
462
36338
9,359
15
1,414
582064
2013-14
Health
136240
273970
410210
1359206
94852
140582
98648
133399
467482
95991
7732
18490
22994
70633
92033
45158
2702
2027
31829
5411
11911
1288
51260
17551
3048
1457
481514
2014-15
130373
339501
469874
1357234
99534
132748
100769
135361
468411
50833
6861
17695
20510
57852
121980
52254
2548
2165
22615
6110
6352
1293
38616
8978
1478
809
418949
2013-14
Others
SEGMENT WISE GROSS DIRECT PREMIUM INCOME OF NON-LIFE INSURERS (WITHIN INDIA)
136240
273970
410210
8468428
80313
2183
37266
27580
146919
294261
1124189
1320939
740794
1069026
4254948
522985
145707
189043
143825
318221
667780
332997
33171
2163
271584
156920
157690
149652
271414
70111
47360
28386
3509009
2014-15
130373
339501
469874
7755381
69247
34
30885
15231
109108
224505
1022288
1154006
712785
970893
3859972
451645
142316
185511
126256
290699
685616
293092
25378
2324
238882
143704
118757
151059
236271
54045
42493
12982
3201030
2013-14
TOTAL
(` Lakh)
STATEMENT 12
No. of
policies
No. of
Persons
Covered
Gross
Premium
Bajaj Allianz
Bharti AXA
CHOLA MS
9.00 1873.64 3179.64
Future Generali
8.00 1373.24 978.76
HDFC ERGO
2817.78
-99.84
ICICI Lombard
88.00 8179.95 14475.48
IFFCO Tokio
57.00 12259.20 7439.90
Liberty Videocon
L&T General
8.00
606.23 384.64
Magma HDI
Raheja QBE
Reliance
50.00 17667.79 27107.37
Royal Sundaram
7.00
1757 2117.32
SBI General
Shriram General
Tata AIG
38.00 1526.00 3401.00
Universal Sompo
Private Total
265
48061
58984
National
29501.00 73429.64 94323.22
New India
82.00 23222.99 43893.06
Oriental
35.00 15442.44 5289.36
United India
41.00 46869.00 36358.00
Public Total
29659
158964 179864
Apollo Munich
-6.01
Cigna TTK
Max Bupa
3.00 1045.54 124.33
Religare
8.00 1869.30
811.06
Star Health
17.00 4426.00 2761.56
Specialised Health
28
7341
3691
Insurers Total
Grand Total
29952
214366 242539
Name of the
Insurance
Company
Government Sponsored
Schemes including RSBY
138
33212.71
15300.68
10533.63
10486.71
8910.05
50255.35
21578.18
3679.02
479.56
Premium
331
900
9903
5051
9405
4854
17261
36571
786
0.35
204
384
454
1828
48301
305996
143850
158001
1105822
220487
628937
687945
330580
1867949
261576
9560
159372
65751
1048105
1544364
56444
68010
1264
238117
18152
52811
14829
168157
106515
55240
111
24321
No. of
policies
12022
214
892
3198
686
2045
1935
924
5590
833
29
466
209
1698
3234
175
190
4
465
34
147
49
413
304
237
0.33
73
46
23
236
557
92
0
35
0.001
0.06
30
236
4
29937
13604
273341
551607
59096
120
24490
1
58
27079
123972
3851
395213 6075122
1293.59
810.38
26498.81
54498.17
2405.43
5.72
1940.26
0.05
1.40
1344.85
8327.12
74.44
12872.82
Premium
13343
TOTAL
408866
20259
91423
29366
442311
661284
115393
574
48906
1
58
84240
192505
6023
482026 10929205
63006.59
16121.51
17285.96
13316.38
50336.03
134861.77
35132.83
3694.73
4736.13
0.05
1.40
44707.97
20436.31
9939.67
288032
2009622
2160 11764.95
1814 13272.50
63002
438615
83374
373631
36994
392979
23056
204573
68027
317018
211451 1288201
1968
75016
38
2124
1788
37206
2533
25832
7252
142629
13579
282806
1641
1158
3079
1752
3848
10758
13967
180
755
0.00
0.06
18359
2886
645
No. of
No. of
Premium
Persons
policies
Covered
89 2371.00 285638
22
255.81 182408
1840
112700 2569255
4208 107728.32 1708966
2321 103025.31 1630609
825 30312.09 1341604
2973 56488.00 1182275
10327
297554 5863454
349 19318.76 484019
9
681.23
17644
72 5843.88 231983
71 7225.44 128761
675 38703.21 1634089
1176
71773 2496496
472
No. of
Persons
Covered
168693
No. of
policies
4063.93 141177
5387.44
20606
74891 1437632
17501.56 1448917
57961.73 989626
55593.84 487493
27623.00 767005
158680 3693041
32918.06 221708
1210.28
8083
28459.29
72341
7884.09
61742
91170.27 580575
161642 944449
3334.75
4636.19
96.77
16921.05
820.82
2279.10
1040.52
15027.01
15632.78
3709.32
9.99
1931.68
No. of
Persons Premium
Covered
Family/Floater Insurance
excluding Individual Policies
889843 4518135
1929.02
7629.25
192039
154077.58
188098.81
113378.00
196549.00
652103
22784.75
232.35
2778.10
9911.67
9993.54
45700
486 12921.00
703 5355.68
637 9768.45
705
1124
1012
307
381
1717
1379
180
42
573
3801
25536
10061
11964
166131
84649
272805
735
1
267
1260
5392
7655
667
516
908
2056
2107
8666
925
813
3074
1000
343
87
No. of
No. of
Persons
policies
Covered
STATEMENT NO. 13
403706
TOTAL
139
GRAND TOTAL
397516
TOTAL
123783
0
0
123783
397516
Marine
19129
46102
28550
30002
0
0
83965
Others
89841
299246 103059
200410
368785 143688
332965
Health
- 101927
- 261765
- 159838
4107249
261765
159838
101927
3845484
881623
642517
1331529
989816
Total
303642
303642
60651
42506
144152
56333
Fire
81908
81908
25865
12129
32167
11748
Marine
356057
234517
364302
366344
Health
3156775
744303
526150
1118804
767518
Total
- 116350.04 116350.04
235386
49205
33149
82012
71019
Others
525106
3446495
- 289720.73 289720.73
- 173370.69 173370.69
1214618 1321220
1214618 1321220
252524
203850
496170
262074
Motor
75.21
75.21
75.21
72.04
76.38
74.78
Fire
57.80
1438794
0
0
1438794
421861
458705
235179
323050
Motor
913827
0
0
913827
259216
284120
162988
207502
Health
725282
255521
90735
164786
469761
95937
152298
102636
118890
Others
3599202
255521
90735
164786
3343681
868267
1119687
595397
760330
Total
319560
0
0
0
0
319560
52786
153006
55525
58243
Fire
73399
0
0
73399
13805
21432
16660
21502
Marine
1115196
0
0
1115196
292574
398286
185417
238918
Motor
970412
0
0
970412
270331
275179
187804
237098
Health
550282
247052
74607
172445
303230
75365
90192
65696
71978
Others
3028848
247052
74607
172445
2781796
704861
938095
511102
627738
Total
0.00
0.00
0.00
0.00
80.39
73.19
85.74
84.07
72.01
Fire
57.80
84.93
40.40
52.64
58.34
Marine
0.00
0.00
0.00
0.00
59.30
72.17
46.49
58.35
71.67
Marine
368224
263244
569219
477416
Motor
141714
141714
30454
30019
61104
20138
Marine
72123
178463
66044
80887
Fire
ECGC
AIC
SPECIALISED
INSURERS
TOTAL
PUBLIC INSURERS
NATIONAL
NEW INDIA
ORIENTAL
UNITED
INSURER
403706
TOTAL
GRAND TOTAL
ECGC
AIC
SPECIALISED
INSURERS
59002
80640
ORIENTAL
UNITED
75331
188733
NATIONAL
Fire
NEW INDIA
PUBLIC INSURERS
INSURER
109.97
109.97
118.98
117.02
98.78
110.02
Health
76.96
110.68
108.47
114.15
55.97
47.74
36.90
57.08
84.58
Others
0.00
0.00
0.00
0.00
77.51
69.35
86.83
78.84
73.96
Motor
0.00
0.00
0.00
0.00
106.19
104.29
96.85
115.23
114.26
Health
75.87
96.69
82.23
104.65
64.55
78.56
59.22
64.01
60.54
Others
72.38
72.38
68.58
77.44
87.17
54.89
Motor
84.15
96.69
82.23
104.65
83.20
81.18
83.78
85.84
82.56
Total
83.91
110.68
108.47
114.15
82.09
84.42
81.89
84.02
77.54
Total
STATEMENT 14
363
848
148
47
Liberty Videocon
L&T
MAGMA HDI
RAHEJA QBE
140
RELIGARE
STAR HEALTH
SUB-TOTAL
76066
MAX BUPA
GRAND TOTAL
76066
SUB-TOTAL
STANDALONE
HEALTH INSURERS
CIGNA TTK
5834
UNIVERSAL SOMPO
2423
TATA AIG
APOLLO MUNICH
660
SHRIRAM
13942
3920
IFFCO-TOKIO
SBI
10885
ICICI LOMBARD
1824
6840
HDFC ERGO
ROYAL SUNDARAM
3347
FUTURE GENERALI
4839
4341
CHOLAMANDALAM
RELIANCE
1143
14662
Fire
BHARTI AXA
BAJAJ ALLIANZ
INSURER
58145
14192
19635
19117
69512
22584
104757
137721
48292
103045
133026
39
38807
14590
14570
174710
9955
35591
214
24252
22577
44927
35
66
3502
3747
29989
6579
16365
803
3884
1686
6868
1831
1718
1239
415
13186
40854
14395
11441
5619
2648
26813
Health Others
249673 106110
80860
74933
116588
96669
265003
Motor
45623
180224
139424
91133
130346
191847
1953
40618
20614
19200
226714
423533
167409
107912
148210
120384
383190
Total
15372
31524
667
65588
- 214,945
- 101793
101793
15372
31524
667
65588
- 214,945
672
21088
26
763
1213
2187
(121)
436
105
4909
16011
7169
3999
2027
808
7201
Marine
50349
50349
2779
2032
428
5703
933
3650
73
584
692
371
2155
10235
6015
1649
2769
916
9366
Fire
18669
79233
135690
49867
87438
121289
(46)
31669
10613
13345
128387
200060
73058
60276
92374
81000
189764
Motor
10176
24892
152
19492
11942
48291
41
61
1819
3843
27714
92720
32843
11345
10295
18636
51152
65106
9397
17388
429
41343
- 133,662
94752
94752
1863
6001
335
2036
366
5340
474
1639
1103
380
6120
25529
11720
7519
3720
1757
18850
Health Others
572
15458
(24)
1075
986
1861
(1)
100
539
209
3778
15799
8152
2639
1454
783
6468
Marine
Fire
76.96
98.68
113.71
65.98
71.74
96.88
89.82
Marine
81.61
72.74
91.59
73.49
80.13
90.35
80.44
79.23
83.79
71.61
Motor
81.26
85.07
2076708 66.19
133,662
65106
9397
17388
429
41343
1943046 66.19
34060 47.64
127616 83.84
87.38
87.38
85.17
73.30
101665 51.15
180430 75.43
81.91
81.91
82.67
75.63
98.53
103.26
84.85
91.18
73.77
62.18
63.96
61.13
55.16
64.33
63.03
79.17
102.22
69.94
70.91
80.37
52.89
107.49
116.54
92.67
51.93
102.56
92.41
87.38
56.48
79.94
52.43
97.48
73.59
Health
60.61
60.61
28.32
36.67
41.67
52.41
21.72
77.76
25.91
95.39
89.02
91.56
46.41
62.49
81.42
65.72
66.21
66.35
70.30
Others
168153 54.97
344344 94.03
131788 87.94
83428 49.27
110612 63.78
103091 80.12
275599 63.88
Total
78.27
62.18
63.96
61.13
55.16
64.33
63.03
79.69
74.65
70.81
97.96
85.78
78.00
94.05
27.73
83.84
71.63
94.52
74.17
81.30
78.72
77.31
74.63
85.64
71.92
Total
STATEMENT 15
3723
665
46
IFFCO TOKIO
L&T
RAHEJA QBE
141
MAX BUPA
RELIGARE
STAR HEALTH
SUB-TOTAL
7809
8018
3692
40606 31966
14401
21002
16453
65513 25712
Health Others
3580
22794
24195
99882
141306
36421
102310
125828
46
10903
152015
6024
4444
1751
1398
607
41
6481
303
57
5608
17906 24953
143
912 14177
20603
37663
4404
19741 15539
75412
61511
108009
87220
235627
Motor
1521
2020
2794
1658
4506
Fire
4077
22819
41194
167278
142563
63073
131572
173976
1847
17803
195310
79
22
1864
1673
367
5582
777
3655
25
689
2780
435291 10273
158493
88892
143136
109290
349306
Total
67540
8164
23766
54340
- 153811
153811
67540
8164
23766
54340
(10)
(45)
426
21856
18
414
958
1931
433
4292
15661
5228
2124
2011
716
7989
Marine
CIGNA TTK
TOTAL
72647
APOLLO MUNICH
STANDALONE HEAL
TH INSURERS
SUB-TOTAL
164
LIBERTY VIDEOCON
4485
UNIVERSAL SOMPO
12
2682
TATA AIG
MAGMA HDI
489
SHRIRAM
11148
15349
ICICI LOMBARD
SBI
5282
HDFC ERGO
1678
3046
FUTURE GENERALI
ROYAL SUNDARAM
4097
CHOLAMANDALAM
4109
1208
BHARTI AXA
RELIANCE
14465
Fire
BAJAJ ALLIANZ
INSURER
37725
12218
12960
14201
56733
3814
19092
18821
74646
127711
30567
85192
114829
143
9515
112713
36
7060
15449
129
443
11761
36827
3992
17209
393
246
2367
11849
779
16619
1957
3254
978
821
11458
49487
13188
3954
3698
2368
10148
Health Others
180051 106816
69111
48346
93136
68570
178150
Motor
45395
6525
14040
35644
- 101603
31.15
Fire
74.68
66.93
47.73
88.00
67.07
76.42
93.10
41.56 101.37
62.38
75.00
50.07
46.32
88.95
53.66 (33.66)
53.69
93.51
97.46
101603
45395
6525
14040
35644
1787411
4337
55.45
0.00
0.00
0.00
0.00
0.00
0.00
55.45
71.24
0.00
0.00
0.00
0.00
0.00
0.00
71.24
48.34 (155.11)
30543
114049
129000
53488
100419
160362
1146
86.92
57.30
60.93
37.44
Marine
28.80 113.95
66.33
68.19
15250 103.54
148173
361891
127502
68385
113740
87233 137.24
252528
Total
15
432
10433
16
278
732
1798
(1)
232
4013
15263
5957
1846
1152
437
2991
Marine
81.40
0.00
0.00
0.00
0.00
0.00
0.00
81.40
106.56
83.76
77.79
74.73
90.38
83.92
83.27
91.26
313.06
87.27
74.15
78.46
91.64
78.60
86.23
78.62
75.61
Motor
81.41
66.06
67.21
79.92
59.07
59.68
65.59
87.62
88.29
0.00
108.94
86.28
90.00
48.63
57.09
97.78
96.45
90.64
87.17
93.02
92.91
84.85
61.71
86.32
86.60
Health
63.00
0.00
0.00
0.00
0.00
0.00
0.00
63.00
129.85
435.01
42.20
47.48
128.31
117.22
32.48
73.20
55.83
58.77
73.74
82.54
41.26
50.63
46.12
64.12
39.47
Others
78.72
66.06
67.21
79.92
59.07
59.68
65.59
79.58
106.39
84.86
74.14
68.18
90.49
84.80
76.32
92.17
62.05
85.66
75.87
83.14
80.45
76.93
79.46
79.82
72.29
Total
ContdSTATEMENT 15
State Government
& Other Approved
Securities
Housing & Loans to
State Government for
Housing and FFE*
Infrastructure
Investments
Approved
Investments
Other Investments
Total Investments
(` Crore)
STATEMENT 16
142
476.76
148.53
321.20
239.53
212.70
480.10
473.18
20.30
0.00
46.56
0.00
72.48
74.64
241.05
482.43
80.84
28.76
3399.06
3224.39
2371.67
1732.38
2148.08
9476.52
54.04
15.44
5.34
23.30
0.00
98.12
4146.69
17120.39
532.30
960.61
1492.91
2065.60
513.14
481.09
377.06
845.90
3137.86
793.66
86.51
108.80
193.85
78.31
1223.70
641.28
334.46
987.01
1166.85
293.50
13328.57
3602.63
5436.57
2714.69
3956.35
15710.24
151.01
53.33
130.66
57.00
183.61
575.61
6262.89
35877.31
933.92
1261.69
2195.61
3562.69
14326.20
445.82
875.03
1320.85
544.65
101.86
276.69
221.84
187.30
180.10
357.57
15.15
0.00
9.59
0.00
154.54
69.98
167.59
327.55
0.00
38.9400
2653.35
2690.91
2177.43
1425.32
1754.22
8047.88
49.08
0.00
0.00
13.20
0.00
62.28
671.07
151.08
285.58
98.82
243.73
875.34
386.40
28.99
29.84
50.10
20.25
371.97
300.05
148.16
404.07
413.39
120.82
4599.66
997.05
1890.34
948.79
1713.16
5549.34
82.05
5.01
19.97
17.00
63.01
187.04
2348.85 2406.35
14833.58 12742.38
510.01
373.14
744.53
601.80
1254.54
974.94
688.31
316.36
361.48
163.70
282.70
1002.95
491.34
49.20
49.95
81.77
30.38
636.66
306.10
179.77
948.99
410.69
130.85
6131.20
982.92
2208.02
1058.51
1874.05
6123.50
69.10
14.88
26.75
36.20
83.11
230.04
3357.87
27277.41
589.74
1150.69
1740.43
1315.63
385.07
409.29
517.88
1073.20
2464.97
730.20
70.55
120.46
143.74
50.52
609.49
772.92
311.10
1941.97
1288.00
220.09
12425.08
2639.23
3124.06
1961.16
3469.64
11194.09
81.26
30.12
50.53
41.90
96.56
300.37
3340.25
24543.86
521.22
784.88
1306.10
1786.01
262.69
359.20
395.23
839.22
2479.22
555.43
48.10
74.74
70.43
30.11
593.69
775.52
261.38
931.08
1048.14
151.63
10661.81
2494.55
2674.84
1765.49
3343.25
10278.13
71.36
10.06
49.84
42.40
90.01
263.67
11280.33
53734.22
2079.44
2316.15
4395.59
1386.64
974.61
1388.07
592.93
1091.50
2374.48
1766.21
157.35
81.22
245.50
80.64
2082.63
486.10
1323.55
781.71
266.35
287.67
15367.16
5469.01
9258.26
4707.86
6684.22
26119.35
348.24
36.87
208.82
105.90
267.55
967.38
11668.03
49263.79
1634.25
2146.56
3780.81
1536.44
928.73
866.21
400.20
991.37
2409.26
1483.00
118.43
66.98
222.94
106.10
1479.29
437.38
742.96
460.05
168.25
284.73
12702.32
5051.34
8589.47
4375.36
6223.33
24239.50
273.20
25.08
129.11
53.00
173.55
653.94
2605.32
4844.44
4.00
30.30
34.30
138.61
9.90
0.00
0.32
101.80
187.12
0.00
18.08
0.00
0.00
0.00
32.98
0.00
25.00
0.01
0.00
0.00
513.82
396.53
274.77
268.40
735.68
1675.38
15.27
2.76
9.89
22.00
0.00
49.92
7516.32
2460.92
3164.10
1973.29
3756.80
9847.88
4368.80
490.28
566.00
766.00
239.78
5046.87
2488.59
2667.58
5381.46
3015.95
1031.37
54781.99
16482.36
24813.11
12473.52
19097.58
72866.57
743.89
143.86
429.57
304.90
749.19
2371.41
6641.21
1970.45
2328.78
1493.49
3142.38
9203.44
3576.06
308.71
280.37
546.91
234.78
3842.02
2224.21
1654.54
3109.77
2796.63
889.62
44243.37
14986.08
21011.20
11517.22
17579.12
65093.62
653.20
93.48
336.87
187.60
510.18
1781.32
1450.91 30694.37 28691.12
3055.88 160714.34 139809.42
120.22
4711.55
4028.57
28.10
6718.47
5698.06
148.32 11430.02
9726.63
37.46
12.95
60.02
0.34
34.86
121.66
0.00
11.52
0.00
0.00
0.00
18.83
0.00
0.00
0.00
0.00
0.00
297.65
149.60
242.55
287.58
588.81
1268.54
26.50
0.00
7.29
5.00
0.00
38.79
31.03.2015 30.03.2014 31.03.2015 30.03.2014 31.03.2015 30.03.2014 31.03.2015 30.03.2014 31.03.2015 30.03.2014 31.03.2015 30.03.2014 31.03.2015 30.03.2014
BAJAJ ALLIANZ
3510.37
BHARTI AXA
626.46
CHOLAMANDALAM MS
684.06
FUTURE GENERALI
458.93
HDFC ERGO
994.90
ICICI LOMBARD
3338.26
IFFCO TOKIO
907.87
L&T GENERAL
174.80
LIBERTY VIDEOCON
314.37
MAGMA HDI
248.43
RAHEJA QBE
78.24
RELIANCE
1612.63
ROYAL SUNDARAM
848.83
SBI GENERAL
587.11
SHRIRAM
1226.35
TATA AIG
970.07
UNIVERSAL SOMPO
364.00
PRIVATE TOTAL
16945.68
NATIONAL
3770.28
NEW INDIA
7576.33
ORIENTAL
2745.21
UNITED INDIA
4185.91
PUBLIC TOTAL
18277.73
APOLLO MUNICH
175.98
CIGNA TTK
43.79
MAX BUPA
128.24
RELIGARE HEALTH
75.60
STAR HEALTH
301.97
STANDALONE HEALTH
725.58
PRIVATE (TOTAL)
GIC (Reinsurer)
6955.31
NON-LIFE TOTAL
42904.30
AIC
996.06
ECGC
1516.19
SPECIALISED
2512.25
INSURERS (TOTAL)
Insurer
Central
Government
Securities
As on 31st
March, 2014
Infusion
During
the year
As on 31st
March, 2015
Foreign
Promoter
Indian
Promoter
FDI (%)
110.22
976.55
298.80
710.00
529.28
445.05
269.32
495.00
100.00
359.35
207.00
122.77
315.00
175.00
258.00
505.00
350.00
6226.37
100.00
200.00
150.00
150.00
600.00
6826.37
0.00
262.11
0.00
0.00
9.34
1.54
0.00
125.00
0.00
320.00
0.00
0.00
0.00
28.00
0.09
0.00
0.00
746.08
0.00
0.00
50.00
0.00
50.00
796.08
110.22
1238.66
298.80
710.00
538.62
446.59
269.32
620.00
100.00
679.35
207.00
122.77
315.00
203.00
258.09
505.00
350.00
6972.45
100.00
200.00
200.00
150.00
650.00
7622.45
28.66
275.25
77.69
181.05
139.17
114.49
70.02
0.00
25.50
122.90
53.82
0.00
81.90
52.78
0.00
131.30
91.00
1445.53
0.00
0.00
0.00
0.00
0.00
1445.53
81.56
963.41
221.11
528.95
399.45
332.10
199.30
620.00
74.50
556.45
153.18
122.77
233.10
150.22
258.09
373.70
259.00
5526.89
100.00
200.00
200.00
150.00
650.00
6176.89
26.00%
22.22%
26.00%
25.50%
25.84%
25.64%
26.00%
0.00%
25.50%
18.09%
26.00%
0.00%
26.00%
26.00%
0.00%
26.00%
26.00%
20.73%
0.00%
0.00%
0.00%
0.00%
0.00%
18.96%
330.98
100.00
669.00
250.00
333.86
1683.84
18.24
100.00
121.50
100.00
28.28
368.02
349.22
200.00
790.50
350.00
362.14
2051.86
89.04
52.00
205.53
0.00
92.41
438.98
260.18
148.00
584.97
350.00
269.73
1612.88
25.50%
26.00%
26.00%
0.00%
25.52%
21.39%
200.00
1100.00
1300.00
0.00
100.00
100.00
200.00
1200.00
1400.00
0.00
0.00
0.00
200.00
1200.00
1400.00
0.00%
0.00%
0.00%
430.00
430.00
10240.21
0.00
0.00
1264.10
430.00
430.00
11504.31
0.00
0.00
1884.51
430.00
430.00
9619.77
0.00%
0.00%
16.38%
143
Insurer
PRIVATE INSURERS
1
BAJAJ ALLIANZ
1.96
2.17
2.08
1.82
1.82
BHARTI AXA
1.56
1.62
1.55
1.58
1.57
CHOLAMANDALAM MS
1.61
1.60
1.55
1.57
1.59
FUTURE GENERALI
1.62
1.66
1.68
1.63
1.66
HDFC ERGO
1.60
1.63
1.55
1.59
1.65
ICICI LOMBARD
1.72
1.74
1.81
1.96
1.95
IFFCO TOKIO
1.67
1.62
1.67
1.60
1.65
L&T
1.57
1.59
1.55
1.67
1.97
LIBERTY VIDEOCON
4.22
3.35
2.53
7.90
6.71
10
MAGMA HDI
1.97
1.62
1.53
1.54
1.24
11
RAHEJA QBE
4.07
4.08
4.09
4.26
4.26
12
RELIANCE
1.51
1.52
1.53
1.51
1.53
13
ROYAL SUNDARAM
1.61
1.59
1.63
1.71
1.64
14
SBI
2.51
2.09
3.65
3.27
2.80
15
SHRIRAM
1.51
1.59
1.71
1.81
1.79
16
TATA AIG
1.59
1.68
1.69
1.60
1.55
17
UNIVERSAL SOMPO
1.91
2.09
2.12
1.93
1.86
PUBLIC INSURERS
18
NATIIONAL
1.55
1.57
1.55
1.52
1.52
19
NEW INDIA
2.61
2.53
2.67
2.60
2.44
20
ORIENTAL
1.64
1.64
1.65
1.62
1.68
21
UNITED INDIA
2.54
2.60
2.63
2.53
2.36
APOLLO MUNICH
1.84
1.71
1.73
1.68
1.72
23
MAX BUPA
2.13
1.85
1.98
2.13
2.10
24
RELIGARE HEALTH
2.10
1.56
1.55
2.04
2.04
25
STAR HEALTH
1.50
1.18
1.01
1.00
2.40
26
CIGNA TTK
1.70
2.34
2.73
2.10
2.10
2.60
2.52
3.21
3.30
3.18
11.02
11.50
11.44
10.38
6.61
2.73
2.91
3.06
3.15
3.04
SPECIALISED INSURERS
27
AIC
28
ECGC
REINSURER
29
GIC
144
2014-15
Insurer
Aegon Religare
Opening
Balance
76
6897
6602
94.68
371
256
106
4185
4185
100.00
Bajaj Allianz
10
19795
19530
98.61
275
115
76
84
Bharti Axa
16
5642
5307
93.80
351
54
11
286
40
23629
23658
99.95
11
Canara HSBC
4559
4500
98.71
59
59
DHFL Pramerica
42
1593
982
60.06
653
37
14
602
Edleweiss Tokio
514
481
93.58
33
27
13
9488
8867
93.33
634
292
192
150
Future Generali
101
5390
5110
93.06
381
300
77
HDFC Standard
666
32214
30582
93.01
2298
229
44
2025
ICICI Prudential
33
11801
11775
99.50
59
39
10
10
771
773
100.00
47
1287
1216
91.15
118
46
71
Kotak Mahindra
4616
4496
97.23
128
126
Max Life
16553
16549
99.98
PNB MetLife
4820
4817
99.85
45
24763
24318
98.02
490
452
25
13
Sahara
27
27
100.00
SBI Life
12273
12263
99.88
15
12
Shri Ram
240
234
94.35
14
2301
2215
95.89
95
26
10
59
55
4690
4632
97.62
113
20
84
80944
80944
100.00
1180
278992
274063
97.82
6109
2105
407
3597
Aviva
Exide Life
IDBI Federal
India First
Reliance
Tata AIA
LIC
Total
145
2014-15
Insurer
Opeing
Balance
Reported
during
the year
4770
4571
95.73
204
14
183
4586
4481
97.71
105
49
49
Cholamandalam MS General
10
2508
2415
95.91
103
25
76
Between
More than
15 and 30
30 days
days
3727
3727
100.00
2086
2065
98.90
23
23
24
5930
5582
93.75
372
252
36
84
2043
1889
92.06
163
19
20
124
431
427
98.84
356
350
98.31
101
92
91.09
Raheja QBE
Reliance General Insurance
Royal Sundaram Alliance General
0.00
40
1762
1735
96.28
67
40
22
4976
4912
98.67
66
64
42
1325
1050
76.81
317
16
11
290
135
135
100.00
3963
3926
99.07
37
36
358
358
100.00
135
39057
37715
96.23
1477
550
90
837
National Insurance
256
4740
4821
96.50
175
31
15
129
99
3204
3201
96.91
102
26
11
65
66
2165
2172
97.36
59
50
218
5705
5868
99.07
55
26
27
639
15814
16062
97.62
391
91
29
271
2061
2051
99.37
13
12
75
71
94.67
427
429
100.00
12
2785
2631
94.07
166
110
55
423
421
99.53
STANDALONE HEALTH
INSURERS
43
46
43
48.31
46
46
834
60688
59423
96.59
2099
767
120
1212
146
ANNEXURE
Private Sector
1. Aegon Religare Life Insurance Co. Ltd.
2. Aviva Life Insurance Co. Ltd.
3. Bajaj Allianz Life Insurance Co. Ltd.
4. Bharti AXA Life Insurance Co. Ltd.
5. Birla Sun Life Insurance Co. Ltd.
6. Canara HSBC OBC Life Insurance Co. Ltd.
7. DHFL Pramerica Life Insurance Co. Ltd.
8. Edleweiss Tokio Life Insurance Co. Ltd.
9. Exide Life Insurance Co. Ltd.
10. Future Generali Life Insurance Co. Ltd.
11. HDFC Standard Life Insurance Co. Ltd.
12. ICICI Prudential Life Insurance Co. Ltd.
13. IDBI Federal Life Insurance Co. Ltd.
14. India First Life Insurance Co. Ltd.
15. Kotak Mahindra Old Mutual Life Insurance Co. Ltd.
16. Max Life Insurance Co. Ltd.
17. PNB Met Life India Insurance Co. Ltd.
18. Reliance Life Insurance Co. Ltd.
19. Sahara Life Insurance Co. Ltd.
20. SBI Life Insurance Co. Ltd.
21. Shriram Life Insurance Co. Ltd.
22. Star Union Dai-ichi Life Insurance Co. Ltd.
23. TATA AIA Life Insurance Co. Ltd.
149
Private Sector
Specialised Insurers
RE - INSURER*
General Insurance Corporation of India
* As on 31st March, 2015
150
Insurer /
Intermediary
Brokers-Direct
Renewal Fee
Periodicity
of Renewal
`50,000
Every year
(by 31st
December)
`30000
`15000
3 years
`20000
3 years
Brokers-Reinsurance
`25000
3 years
Brokers-Composite
`40000
3 years
`1000
5 years
Corporate Agents
`250
3 Years
Web Aggregators
`10000
`10000
3 Years
Common Service
Centre - Special
Purpose Vehicles
`1000
3 Years
Referrals
`10,000
`10000
3 Years
`5000
`2000
3 years
`100000
`50000
3 Years
Amalgamation and
transfer of general
insurance business
10
11
Insurance Repository
Processing Fee
Registration Fee
`20000
1/10th of 1% of Gross
Direct Premium written
direct in India by the
transacting entities during
the financial year
preceding the financial
year in which the
application is filled with the
Authority subject to a
minimum of `50 lakh and
maximum of `5 crore
`10000
Note: In addition service tax as per prevailing rate will be levied on the applicable fee amount.
151
Age (x)
0.004445
58
0.009944
0.003897
59
0.010709
0.002935
60
0.011534
0.002212
61
0.012431
0.001670
62
0.013414
0.001265
63
0.014497
0.000964
64
0.015691
0.000744
65
0.017009
0.000590
66
0.018462
0.000492
67
0.020061
10
0.000440
68
0.021819
11
0.000428
69
0.023746
12
0.000448
70
0.025855
13
0.000491
71
0.028159
14
0.000549
72
0.030673
15
0.000614
73
0.033412
16
0.000680
74
0.036394
17
0.000743
75
0.039637
18
0.000800
76
0.043162
19
0.000848
77
0.046991
20
0.000888
78
0.051149
21
0.000919
79
0.055662
22
0.000943
80
0.060558
23
0.000961
81
0.065870
24
0.000974
82
0.071630
25
0.000984
83
0.077876
26
0.000994
84
0.084645
152
Age (x)
27
0.001004
85
0.091982
28
0.001017
86
0.099930
29
0.001034
87
0.108540
30
0.001056
88
0.117866
31
0.001084
89
0.127963
32
0.001119
90
0.138895
33
0.001164
91
0.150727
34
0.001218
92
0.163532
35
0.001282
93
0.177387
36
0.001358
94
0.192374
37
0.001447
95
0.208585
38
0.001549
96
0.226114
39
0.001667
97
0.245067
40
0.001803
98
0.265555
41
0.001959
99
0.287699
42
0.002140
100
0.311628
43
0.002350
101
0.337482
44
0.002593
102
0.365411
45
0.002874
103
0.395577
46
0.003197
104
0.428153
47
0.003567
105
0.463327
48
0.003983
106
0.501298
49
0.004444
107
0.542284
50
0.004946
108
0.586516
51
0.005483
109
0.634244
52
0.006051
110
0.685737
53
0.006643
111
0.741283
54
0.007256
112
0.801191
55
0.007888
113
0.865795
56
0.008543
114
0.935453
57
0.009225
115
0.985796
153
Age (x)
20
0.000919
51
0.004719
21
0.000961
52
0.005386
22
0.000999
53
0.006058
23
0.001033
54
0.006730
24
0.001063
55
0.007401
25
0.001090
56
0.008069
26
0.001113
57
0.008710
27
0.001132
58
0.009397
28
0.001147
59
0.010130
29
0.001159
60
0.010907
30
0.001166
61
0.011721
31
0.001170
62
0.011750
32
0.001170
63
0.012120
33
0.001171
64
0.012833
34
0.001201
65
0.013889
35
0.001246
66
0.015286
36
0.001308
67
0.017026
37
0.001387
68
0.019109
38
0.001482
69
0.021534
39
0.001593
70
0.024301
40
0.001721
71
0.027410
41
0.001865
72
0.030862
42
0.002053
73
0.034656
43
0.002247
74
0.038793
44
0.002418
75
0.043272
45
0.002602
76
0.048093
46
0.002832
77
0.053257
47
0.003110
78
0.058763
48
0.003438
79
0.064611
49
0.003816
80
0.070802
50
0.004243
154
Age (x)
81
0.077335
100
0.266511
82
0.084210
101
0.279892
83
0.091428
102
0.293614
84
0.098988
103
0.307679
85
0.106891
104
0.322087
86
0.115136
105
0.336836
87
0.123723
106
0.351928
88
0.132652
107
0.367363
89
0.141924
108
0.383139
90
0.151539
109
0.399258
91
0.161495
110
0.415720
92
0.171794
111
0.432524
93
0.182436
112
0.449670
94
0.193419
113
0.467159
95
0.204746
114
0.484989
96
0.216414
115
0.503163
97
0.228425
116
0.521678
98
0.240778
117
0.540536
99
0.253473
118
0.559737
155
Company Name
UIN
116N130V01
116N129V01
116N128V01
116N127V01
116N036V04
116L126V01
116L125V01
116B037V01
116B036V01
116B035V01
116B034V01
116B031V01
116B010V02
116B005V03
116A033V01
116A032V01
116A030V01
116A014V02
116A013V02
121N106V01
121N105V01
121N104V01
121N103V01
121N102V01
121N101V01
121N100V01
121N092V03
122N066V03
Annuity Plus
122N018V04
122N108V01
Reliance Life
Insurance Co. Ltd.
156
Company Name
Birla Sun Life
Insurance Co. Ltd.
UIN
109N096V01
109N095V01
109N093V01
109N092V01
109N091V01
109N083V02
109N077V02
109N071V02
109L097V01
109L094V01
109L090V01
105N144V01
105L145V01
101N102V01
101N101V01
101N087V02
101N005V04
101L103V01
101L100V01
101B013V01
Exide Life
114N074V01
114N073V01
114B007V02
Life Insurance
512N298V01
Corporation of India
512N297V01
512N296V01
512N295V01
512N293V01
512N292V01
512N290V01
512G294V01
512G291V01
512B210V01
157
10
Company Name
Max Life
104N088V01
104N086V01
104N085V01
104L087V01
104B027V01
104B026V01
117N090V01
11
12
13
UIN
117N089V01
117N088V01
117N087V01
117N086V01
Kotak Mahindra OM
107N092V01
107N090V01
107N089V01
107N009V06
107L091V01
107L010V05
111N101V01
Co. Ltd.
111N099V01
111N098V01
111N097V01
111N085V02
111L100V01
110N118V01
110N117V01
110N116V01
110N115V01
110L114V01
110L113V01
110L112V01
110L111V01
110A027V01
110A026V01
158
Company Name
14
15
16
17
18
UIN
110A025V01
127N035V01
127N034V01
127N033V01
127B005V01
130N060V01
130N061V01
130N062V01
Shriram Life
128N056V01
128N055V01
128N054V01
128N053V01
128A013V01
128A012V01
Future Generali
133N056V01
133N055V01
Co. Ltd.
133N054V01
133N053V01
133N030V02
133B024V01
133B023V01
133A026V01
133A025V01
135N040V01
135N039V01
135N037V01
135N035V01
135L038V01
135L036V01
135L034V01
159
20
21
22
Company Name
Canara HSBC
Oriental Bank of
136N029V02
Commerce Life
Insurance
136L032V01
Company Ltd.
136L031V01
136L030V01
140N043V01
140N042V01
140N040V01
140N034V02
140L041V01
140L025V02
AEGON RELIGARE
138N052V01
Life Insurance
138N051V01
Company Ltd
138N050V01
138L049V01
138L030V03
138B011V01
142N046V01
23
24
UIN
142N045V01
142N044V01
142B006V01
142B005V01
143N024V01
insurance Co . Ltd
143N023V01
143N006V03
147N029V01
147N030V01
147N028V01
147N027V01
147B015V01
160
Group Category
Insurer
Name of the Product
AVIVA LIFE
BIRLA SUNLIFE
CANARA HSBC
OBC LIFE
DHFL PRAMERICA
EDLEWEISS TOKIO
HDFC STANDARD
HDFC SL Sarvgrameen
Bachat Yojana
ICICI PRUDENTIAL
IDBI FEDERAL
KOTAK
MAHINDRA LIFE
SAHARA LIFE
SBI LIFE
SHRIRAM LIFE
Shri sahay SP
TATA AIA
LIC OF INDIA
Bhagya Lakshmi
* All Micro-Insurance products and products falling within the parameters prescribed under the IRDA (Micro-Insurance)
Regulations, 2005, but launched prior to the said Regulations.
161
Company Limited
Professional Protect
D&O and Company Reimbursement Policy
Weather Protect Insurance Policy
Crop Insurance
Jewellers comprehensive protection policy
Cholamandalam MS General
ECGC Limited
Company Limited
Company limited
Extended Warranty
Extension of Policy Tenure: Comprehensive Insurance
(Two Wheeler) B Policy & 3 add-ons
Company limited
Marine STP
Marine DSU
Stand Alone Motor Long term TP for Two Wheeler
Livestock and Pet Connect Policy
E&O Liability Insurance Policy
162
1
Company Ltd.
11
12
13
14
15
Company Limited
Company limited
16
Smart Protect-Revision
17
18
company Limited
Company Limited
19
Company Limited
20
163
Sl. No
UIN.
IRDA/NL-HLT/AMHI/P-H/V.II/1/14-15
IRDA/NL-HLT/BAGI/P-T/V.I/37/13-14
IRDA/NL-HLT/BAGI/P-T/V.I/468/13-14
IRDA/NL-HLT/BAGI/P-P/V.I/8/14-15
IRDA/NL-HLT/BAGI/P-P/V.I/16/14-15
IRDA/NL-HLT/CTTK/P-H/V.I/5/14-15
IRDA/NL-HLT/CTTK/P-H/V.I/6/14-15
IRDA/NL-HLT/CTTK/P-H/V.I/28/14-15
IRDA/NL-HLT/ITGI/P-H/V.I/476/13-14
10
IRDA/NL-HLT/ITGI/P-H/V.I/50/14-15
11
IRDA/NL-HLT/ITGI/P-H/V.I/51/14-15
Individual Medishield
Insurance Policy
12
IRDA/NL-HLT/ITGI/P-H/V.I/52/14-15
Swasthya Kawach
(Family Health) Policy
III
IV
13
IRDA/NL-HLT/L&TGI/P-H/V.II/31/14-15
VI
14
IRDA/NL-HLT/LVGI/P-H/V.II/61/14-15
15
IRDA/NL-HLT/LVGI/P-P/V.II/09/14-15
16
IRDA/NL-HLT/MBHI/P-H/V.II/2/14-15
17
IRDA/NL-HLT/MBHI/P-H/V.I/14/14-15
VII
VIII
18
IRDA/NL-HLT/NI/P-H/V.I/463/13-14
IX
19
IRDA/NL-HLT/RHI/P-H/V.I/7/13-14
Joy
20
IRDA/NL-HLT/RHI/P-T/V.II/23/14-15
Explore (Revision)
164
Sl. No
UIN.
21
IRDA/NL-HLT/RSAI/P-H/V.I/32/14-15
Lifeline
XI
22
IRDA/NL-HLT/SBIGI/P-H/V.I/473/13-14
23
IRDA/NL-HLT/SBIGI/P-H/V.I/465/13-14
24
IRDA/NL-HLT/SBIGI/P-H/V.I/477/13-14
25
IRDA/NL-HLT/SBIGI/P-H/V.II/114/13-14
Loan Insurance
Policy (Revision)
26
IRDA/NL-HLT/SHAI/P-H/V.I/10/14-15
27
IRDA/NL-HLT/SHAI/P-H/V.II/129/14-15
28
IRDA/NL-HLT/TAGI/P-H/V.I/276/13-14
Group MediPrime
29
IRDA/NL-HLT/TAGI/P-T/V.I/447/13-14
Travel Assure
30
IRDA/NL-HLT/TAGI/P-P/V.I/3/14-15
31
IRDA/NL-HLT/TAGI/P-T/V.III/32/14-15
32
IRDA/NL-HLT/TAGI/P-P/V.I/29/14-15
33
IRDA/NL-HLT/TAGI/P-H/V.I/47/14-15
Wellsurance Woman
34
IRDA/NL-HLT/TAGI/P-H/V.I/48/14-15
Wellsurance Family
35
IRDA/NL-HLT/TAGI/P-H/V.I/49/14-15
Wellsurance Senior
36
IRDA/NL-HLT/NIA/P-H/V.I/35/14-15
37
IRDA/NL-HLT/NIA/P-P/V.I/55/14-15
38
IRDA/NL-HLT/NIA/P-P/V.I/56/14-15
39
IRDA/NL-HLT/NIA/P-P/V.I/57/14-15
40
IRDA/NL-HLT/NIA/P-P/V.I/58/14-15
41
IRDA/NL-HLT/OIC/P-T/V.I/17/14-15
42
IRDA/NL-HLT/OIC/P-H/V.I/18/14-15
43
IRDA/NL-HLT/OIC/P-H/V.I/19/14-15
XII
XIII
XIV
XV
165
XVI
Sl. No
UIN.
44
IRDA/NL-HLT/OIC/P-H/V.I/20/14-15
Nagrik Suraksha
Individual Policy
45
IRDA/NL-HLT/OIC/P-H/V.I/21/14-15
46
IRDA/NL-HLT/OIC/P-H/V.I/22/14-15
47
IRDA/NL-HLT/OIC/P-T/V.I/23/14-15
48
IRDA/NL-HLT/OIC/P-H/V.I/24/14-15
49
IRDA/NL-HLT/OIC/P-P/V.I/25/14-15
50
IRDA/NL-HLT/OIC/P-P/V.I/26/14-15
51
IRDA/NL-HLT/OIC/P-P/V.I/27/14-15
Bhagyashree Child
Welfare Policy
52
IRDA/NL-HLT/OIC/P-H/V.I/38/14-15
53
IRDA/NL-HLT/OIC/P-H/V.I/39/14-15
54
IRDA/NL-HLT/OIC/P-P/V.I/40/14-15
55
IRDA/NL-HLT/OIC/P-P/V.I/41/14-15
56
IRDA/NL-HLT/OIC/P-P/V.I/42/14-15
57
IRDA/NL-HLT/OIC/P-P/V.I/43/14-15
58
IRDA/NL-HLT/OIC/P-H/V.I/44/14-15
Universal Health
Insurance Policy
59
IRDA/NL-HLT/OIC/P-H/V.I/45/14-15
60
IRDA/NL-HLT/OIC/P-P/V.I/46/14-15
61
IRDA/NL-HLT/USGI/P-H/V.I/30/13-14
62
IRDA/NL-HLT/USGI/P-H/V.I/445/13-14
63
IRDA/NL-HLT/USGI/P-T/V.I/446/13-14
64
IRDA/NL-HLT/USGI/P-H/V.II/4/14-15
65
IRDA/NL-HLT/USGI/P-H/V.II/4/14-15
66
IRDA/NL-HLT/USGI/P-H/V.I/15/14-15
Note: Overseas Travel Insurance Policy (UIN:IRDA/NL/HLT/BAGI/P-T/V.I/423/13-14) of "Bajaj Allianz General Insurance Cl.
Ltd" which was shown in list of approved products list of Annual Report 2013-14 has been cancelled during 2014-15.
166
Ref. No.
Date of
issue
Subject
IRDA/LIFE/ORD/MISC/103/04/2014
08/04/2014
IRDA/LIFE/CIR/GLD/104/04/2014
09/04/2014
IRDA/BRK/ORD/REORD/110/04/2014
11/04/2014
Reconsideration of order no
IRDA/BRK/ORD/LC/200/10/2013
IRDA/NL/CIR/F&U/112/04/2014
17/04/2014
IRDA/BRK/MISC/CIR/114/04/2014
21/04/2014
IRDA/BRK/MISC/NOT/116/04/2014
25/04/2014
Furnishing of PAN
IRDA/BRK/MISC/NOT/117/04/2014
25/04/2014
IRDA/F&A/CIR/ACTS/118/04/2014
28/04/2014
IRDA/BRK/MISC/CIR/121/05/2014
01/05/2014
10
IRDA/LIFE/GDL/MISC/123/05/2014
05/05/2014
11
IRDA/BRK/MISC/ORD/125/05/2014
12/05/2014
12
IRDA/NL/GDL/MISC/137/06/2014
10/06/2014
13
IRDA/BRK/MISC/CIR/139/06/2014
16/06/2014
14
IRDA/F&I/CIR/INV/138/06/2014
16/06/2014
15
IRDA/BRK/ORD/REORD/140/06/2014
17/06/2014
16
IRDA/BRK/ORD/REORD/141/06/2014
17/06/2014
17
IRDA/TPA/MISC/ORD/142/06/2014
17/06/2014
18
IRDA/BRK/MISC/CIR/143/06/2014
18/06/2014
19
IRDA/BRK/MISC/CIR/144/06/2014
18/06/2014
20
IRDA/ACT/CIR/MISC/145/06/2014
23/06/2014
21
IRDA/LIFE/ADVT/CIR/146/06/2014
24/06/2014
22
IRDA/BRK/ORD/REORD/148/06/2014
26/06/2014
23
IRDA/BRK/MISC/CIR/151/06/2014
27/06/2014
24
IRDA/BRK/ORD/REORD/152/07/2014
01/07/2014
25
IRDA/ACT/CIR/MISC/153/07/2014
03/07/2014
167
Ref. No.
Date of
issue
Subject
26
IRDA/ACT/REG/CIR/158/07/2014
07/07/2014
27
IRDA/F&I/ORD/EHP/159/07/2014
08/07/2014
28
IRDA/F&I/ORD/EHP/160/07/2014
08/07/2014
29
IRDA/NL/ORD/CMT/161/07/2014
09/07/2014
30
IRDA/BRK/MISC/ORD/163/07/2014
10/07/2014
31
IRDA/F&I/CIR/INV/162/07/2014
10/07/2014
32
IRDA/AGTS/CIR/LCE/164/07/2014
11/07/2014
33
IRDA/F&A/CIR/GLD/165/07/2014
17/07/2014
34
IRDA/LIFE/ORD/MISC/166/07/2014
23/07/2014
35
IRDA/BRK/ORD/LC/167/07/2014
25/07/2014
36
IRDA/INSP/ORD/ONS/168/07/2014
25/07/2014
37
IRDA/IT/ORD/MISC/186/08/2014
08/08/2014
38
IRDA/SUR/MISC/ORD/189/08/2014
11/08/2014
39
IRDA/BRK/MISC/CIR/190/08/2014
12/08/2014
40
IRDA/BRK/ORD/LC/193/08/2014
12/08/2014
41
IRDA/BRK/ORD/LC/194/08/2014
12/08/2014
42
IRDA/NL/CIR/MOTP/192/08/2014
12/08/2014
43
IRDA/F&A/CIR/GLD/195/08/2014
13/08/2014
44
IRDA/F&I/MISC/CIR/196/08/2014
14/08/2014
45
IRDA/CAD/PNTC/MISC/197/08/2014
25/08/2014
46
IRDA/SDD/MISC/ORD/199/08/2014
25/08/2014
47
IRDA/TPA/MISC/ORD/200/08/2014
25/08/2014
168
Ref. No.
Date of
issue
Subject
48
IRDA/F&A/ORD/EMT/205/08/2014
26/08/2014
Expenses of Management
49
IRDA/TPA/MISC/ORD/201/08/2014
26/08/2014
50
IRDA/CAD/MISC/PRE/206/08/2014
28/08/2014
51
IRDA/TPA/MISC/ORD/207/09/2014
01/09/2014
52
IRDA/BRK/MISC/CIR/208/09/2014
03/09/2014
53
IRDA/BRK/MISC/CIR/209/09/2014
03/09/2014
54
IRDA/TPA/MISC/ORD/211/09/2014
09/09/2014
55
IRDA/F&I/CIR/INV/213/09/2014
12/09/2014
56
IRDA/INSP/ORD/ONS/215/09/2014
16/09/2014
57
IRDA/INSP/ORD/ONS/216/09/2014
17/09/2014
58
IRDA/NL/ORD/MISC/217/09/2014
17/09/2014
59
IRDA/BRK/ORD/LC/218/09/2014
18/09/2014
60
IRDA/BRK/ORD/LC/219/09/2014
25/09/2014
61
IRDA/DIST/CIR/MISC/224/10/2014
08/10/2014
62
IRDA/F&A/ORD/CG/225/10/2014
15/10/2014
63
IRDA/BRK/MISC/CIR/227/10/2014
17/10/2014
64
IRDA/IT/CIR/MISC/226/10/2014
17/10/2014
65
IRDA/SDD/MISC/CIR/228/10/2014
17/10/2014
66
20/10/2014
67
IRDA/BRK/MISC/CIR/232/10/2014
21/10/2014
169
Ref. No.
Date of
issue
Subject
68
IRDA/CAD/PR/PRE/233/10/2014
22/10/2014
69
IRDA/BRK/ORD/LC/237/10/2014
29/10/2014
70
IRDA/F&A/CIR/DATA/239/10/2014
30/10/2014
71
IRDA/BRK/MISC/CIR/240/10/2014
31/10/2014
72
IRDA/BRK/MISC/CIR/241/10/2014
31/10/2014
73
IRDA/LIFE/ORD/MIN/242/11/2014
03/11/2014
74
IRDA/LIFE/ORD/MISC/243/11/2014
03/11/2014
Final order in the matter of M/s AVIVA Life Insurance Comp. Ltd
75
IRDA/BRK/ORD/LC/244/11/2014
10/11/2014
76
IRDA/BRK/ORD/LC/245/11/2014
11/11/2014
77
IRDA/BRK/MISC/ORD/247/11/2014
12/11/2014
78
IRDA/NL/ORD/MISC/246/11/2014
12/11/2014
79
IRDA/BRK/ORD/LC/248/11/2014
19/11/2014
80
IRDA/F&I/CIR/INV/250/11/2014
26/11/2014
81
IRDA/NL/ORD/MPL/251/11/2014
27/11/2014
82
IRDA/NL/CIR/MISC/266/11/2014
28/11/2014
83
IRDA/LIFE/ORD/MISC/267/12/2014
02/12/2014
84
IRDA/LIFE/ORD/MISC/268/12/2014
02/12/2014
85
IRDA/SUR/NTC/MISC/269/12/2014
03/12/2014
86
12/12/2014
87
17/12/2014
88
IRDA/BRK/MISC/CIR/276/12/2014
18/12/2014
89
IRDA/LIFE/ORD/MISC/277/12/2014
18/12/2014
90
IRDA/NL/ORD/MISC/278/12/2014
22/12/2014
91
IRDA/TPA/MISC/ORD/279/12/2014
22/12/2014
Order oin the matteer of M/s Safeway TPA Services Pvt Ltd
92
IRDA/ACT/ORD/MISC/280/12/2014
23/12/2014
170
Ref. No.
Date of
issue
Subject
93
IRDA/IT/NTC/TNDR/281/12/2014
24/12/2014
94
IRDA/BRK/ORD/LC/283/12/2014
29/12/2014
95
IRDA/HLT/MISC/ORD/284/12/2014
29/12/2014
96
IRDA/LIFE/CIR/GLD/285/12/2014
29/12/2014
97
30/12/2014
98
IRDA/F&A/CIR/GLD/287/12/2014
31/12/2014
99
IRDA/BRK/MISC/NOT/001/01/2015
05/01/2015
100
IRDA/NL/CIR/MISC/005/01/2015
13/01/2015
101
IRDA/NL/CIR/ADV/006/01/2015
13/01/2015
102
IRDA/HLT/ADVT/CIR/017/01/2015
21/01/2015
103
IRDA/ENF/ORD/ONS/019/01/2015
23/01/2015
104
IRDA/CW/ORD/MISC/021/01/2015
28/01/2015
105
IRDA/BRK/ORD/LC/023/01/2015
29/01/2015
106
IRDA/BRK/ORD/REORD/024/01/2015
29/01/2015
M/s PRMAN
107
IRDA/F&I/MISC/CIR/026/02/2015
05/02/2015
108
IRDA/ENF/ORD/ONS/027/02/2015
06/02/2015
109
IRDA/CW/PR/MISC/028/02/2015
09/02/2015
110
IRDA/ENF/ORD/ONS/029/02/2015
10/02/2015
111
IRDA/HLT/REG/CIR/030/02/2015
11/02/2015
112
IRDA/NL/CIR/MISC/031/02/2015
11/02/2015
113
IRDA/BRK/ORD/REORD/032/02/2015
12/02/2015
114
IRDA/ENF/ORD/ONS/033/02/2015
16/02/2015
115
IRDA/F&I/CIR/INV/034/02/2015
16/02/2015
116
IRDA/CAD/ORD/MISC/035/02/2015
19/02/2015
171
10
11
IRDA (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2000
12
13
14
IRDA (Insurance Surveyors and Loss Assessors-Licensing, Professional Requirements and Code of Conduct)
Regulations,2000
15
16
17
18
19
20
IRDA (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2002
21
22
23
24
25
26
27
172
28
29
30
IRDA(Investment)(Amendment)Regulations,2004
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
IRDA (Sharing of confidential information concerning domestic or foreign entity) Regulations, 2012
53
54
55
173
56
57
IRDA (Scheme of Amalgamation and Transfer of Life Insurance Business) Regulations, 2013
58
59
60
61
62
63
64
65
66
67
IRDA (Insurance Surveyors and Loss Assessors - Licensing, Professional requirements and code of conduct)
(Amendment) Regulations,2013
68
69
70
71
72
73
74
75
76
IRDA(Insurance Surveyors and Loss Assessors- Licensing, Professional requirements and code of conduct)
(Second Amendment) Regulations,2013
77
IRDA (Conditions of Service of Officers and Other Employees) (Third Amendment) Regulations, 2014
78
79
80
81
174
Sl.No
Name of the
Entity
Amount of
Penalty (in `)
Date of
issuance of
penalty order
17,700,000
11/04/2014
Reliance Life
Insurance Co Ltd
MB India Health
Care TPA
500,000
17/06/2014
Shriram Life
Insurance
500,000
11/07/2014
Vi o l a t i o n o f c i r c u l a r n o . I R D A / F & A / C i r / D R S H /
183/08/2011 dated 11-08-2011, cir.no.IRDA/F&A/
064/Jan/05 dated 12-01-2015, cir.no.IRDA/Cir/F&
A/073/Feb-05 dated 22-02-2015 and cir.no.IRDA/F&I/
Cir/100/06/2010 dated 16-06-2010
Shriram General
Ins.Co.Ltd
500,000
11/07/2014
500,000
23/07/2014
United India d
Insurance Co Lt
500,000
28/07/2014
Violation of Regulation 7(n) & 4( 1 & 4) of IRDA (Protection of Policyholders' Interests) Regulations, 2002.
M/s E Meditek
TPA services
500,000
25/08/2014
M/s Medicare
TPA Services
500,000
26/08/2014
M/s E Meditek
TPA services
500,000
01/09/2014
10
4,000,000
17/09/2014
11
ICICI Lombard
General Ins.Co.Ltd
5,000,000
17/10/2014
12
Aviva Life
Insuance
500,000
03/11/2014
13
2,500,000
03/11/2014
175
Sl.No
Name of the
Entity
Amount of
Penalty (in `)
Date of
issuance of
penalty order
14
1,500,000
01/12/2014
15
Canara HSBC
OBC Life
3,100,000
12/12/2014
16
500,000
16/12/2014
17
Max Life
Insurance Co
5,500,000
18/12/2014
18
Safeway
TPA Services
500,000
22/12/2014
Violation of Regulation 24(2), 25 (1) & 3(2) of IRDA (TPAHealth Services) Regulations, 2001.
19
Acme Insurance
Broker
700,000
23/01/2015
20
2,500,000
29/01/2015
21
Lambach s Ltd
Insurance Broker
1,520,000
06/02/2015
22
LIC of India
1,000,000
12/02/2015
23
Agriculture
Insurance
Company of
India Ltd
1,000,000
19/03/2015
24
Apollo Munich
Health
2,000,000
19/03/2015
25
Janta Sahkari
Bank - Corporage
Agent
1,000,000
31/03/2015
176