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GOVERNMENT
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New India Assurance Co. Ltd. (NIACL) had Net Acquisition Cost of Rs. 1283.87 crores in 2014-15. It increased from Rs. 1172.61 crores in 2013-14, showing an absolute growth of Rs. 111.26 crores (9.49%) year-on-year. NIACL had Net Acquisition Cost Ratio on Earned Premium (%) of 9.64% in 2014-15. It declined from 10.44% in 2013-14, showing an absolute decline of -0.80 percentage points year-on-year.
National Insurance Co. Ltd. (NICL) had Net Acquisition Cost of Rs. 564.59 crores in 2014-15. It declined from Rs. 583.11 crores in 2013-14, showing an absolute decline of Rs. -18.52 crores (-3.18%) year-on-year. NICL had Net Acquisition Cost Ratio on Earned Premium (%) of 5.7% in 2014-15. It declined from 6.72% in 2013-14, showing an absolute decline of -1.02 percentage points year-on-year.
Oriental Insurance Co. Ltd. (OICL) had Net Acquisition Cost of Rs. 347.82 crores in 2014-15. It declined from Rs. 357.59 crores in 2013-14, showing an absolute decline of Rs. -9.77 crores (-2.73%) year-on-year. OICL had Net Acquisition Cost Ratio on Earned Premium (%) of 5.41% in 2014-15. It declined from 6.01% in 2013-14, showing an absolute decline of -0.60 percentage points year-on-year.
United India Insurance Co. Ltd. (UIICL) had Net Acquisition Cost of Rs. 531.30 crores in 2014-15. It increased from Rs. 438.83 crores in 2013-14, showing an absolute growth of Rs. 92.47 crores (21.07%) year-on-year. UIICL had Net Acquisition Cost Ratio on Earned Premium (%) of 6.03% in 2014-15. It increased from 5.77 in 2013-14, showing an absolute growth of 0.26 percentage points year-on-year.
Note: 1. Data are based on information provided by the Public Sector Undertakings (New India Assurance Company Limited, National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited) to the Insurance Division (DFS); 2. Data pertains to the business done by the companies in India only; 3. Data available quarterly with the figures given upto the quarter end (cumulative); NA: Not Available.