PSUs dominate insurance market with 58% share

After increasing their market shares rapidly for 3-4 years, FY09 saw only marginal growth in the market share of private insurers. In fact the market share of private non life players had been increasing by around 600 to 800 basis points annually between FY06 to FY08. According a report by rating agency Care, public sector companies continue to dominate the general insurance market accounting for more than 58% of market share. The market share of private players which stood at around 19% in FY05 rose to around 40% in FY08. However, post detariffication, the public sector appears to be increasingly ...

More...