National Insurance leads in premium collection in Keralatext_fields
Kochi: State-run general insurer National Insurance Company collected a premium of Rs 525.63 crore in Kerala in FY14, the highest among general insurance companies operating in the state.
National Insurance Company's premium in Kerala for 2013-14 is higher by Rs 3.63 crore to premium collected by United India Insurance Company, a press release said.
National Insurance Company also recorded a growth of 9.40 per cent in Kerala during the year and achieved a claim settlement ratio of 98 per cent and issued 100 percentage of policies underwritten by them.
The combined figures of public sector general insurance companies saw an impressive performance during this fiscal by achieving a growth rate of 10.24 per cent and premium income of Rs 38,603.40 crore.
In the previous year the combined GDPI was Rs 35,016.54 crore, Regional Manager, said in a statement.