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ICICI Lombard Expert Blog

Delhi and Maharashtra Top Insurance Charts

May 26 2015

According to data provided by General Insurance Council (GIC), Delhi has emerged number one in insurance density and insurance penetration, while Maharashtra tops the list in generating non-life premium for the year 2013-14.

New Delhi has mobilized premium of Rs. 5,000 crore with the highest insurance penetration (percentage of population covered) of 1.34% and insurance density (per capita insurance premium) of Rs. 3,228 with 315 general insurance offices. On the other side, Maharashtra has topped the list in generating non-life premium. With around 1,100 offices set up by the general insurers, Maharashtra has mobilized a total premium of Rs. 17,774 crore. Its per capita premium is Rs. 1,600 and insurance penetration has reached 1.13%.

ICICI Lombard General Insurance's Underwriting and Claims Chief, Mr. Sanjay Datta, attributed Maharashtra's statistics to the presence of large number of industries, companies, and corporate offices in the state. He also explained New Delhi's position by considering the increase in non-government assets and population growth in the city as well as surrounding areas as the reason for its positive insurance statistics. General insurers are also looking to expand their market and concentrate on other Indian regions as well.

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