INSURANCE National is 3rd-largest insurer

ew Delhi: State-run National Insurance has pipped Oriental Insurance to become the third largest non-life insurer in terms of premium collection.

According to IRDA data, National Insurance Company has mopped up Rs 2,376 crore premium during April-August this year compared to Rs 1,847 crore in the corresponding period last fiscal.

Oriental Insurance collected Rs 2,225 crore in the first five months of the current fiscal against Rs 1,956 crore mopped up during April-August last year.

Overall, the general insurance industry grew 22.53 per cent in the first five months of the current fiscal by collecting Rs 17,423 crore premium.

The highest premium of Rs 3,051 crore was collected by state-run New India Insurance, which grew by 20.11 per cent during April-August, while United India mopped up Rs 2,571 crore, an increase of 24.03 per cent over a year-ago period.

The four public insurers mopped up Rs 10,224 crore in the first five months of the current fiscal,