Management Expenses of Public General Insurance Companies in 2013-14 and 2014-15

New India Assurance Co. Ltd. (NIACL) had Management Expenses of Rs. 3060.6 crores in 2014-15. It increased from Rs. 2630.36 crores in 2013-14, showing an absolute growth of Rs. 430.24 crores (16.36%) year-on-year. NIACL had Management Expenses Ratio to Earned Premium (%) of 22.99% in 2014-15. It decreased from 23.42% in 2013-14, showing an absolute decrease of -0.43 percentage points year-on-year.

National Insurance Co. Ltd. (NICL) had Management Expenses of Rs. 3121.01 crores in 2014-15. It increased from Rs. 2268.78 crores in 2013-14, showing an absolute growth of Rs. 852.23 crores (37.56%) year-on-year. NICL had Management Expenses Ratio to Earned Premium (%) of 31.53% in 2014-15. It increased from 26.13% in 2013-14, showing an absolute growth of 5.4 percentage points year-on-year.

Oriental Insurance Co. Ltd. (OICL) had Management Expenses of Rs. 2347.97 crores in 2014-15. It increased from Rs. 1775.43 crores in 2013-14, showing an absolute growth of Rs. 572.54 crores (32.25%) year-on-year. OICL had Management Expenses Ratio to Earned Premium (%) of 36.54% in 2014-15. It increased from 29.82% in 2013-14, showing an absolute growth of 6.72 percentage points year-on-year.

United India Insurance Co. Ltd. (UIICL) had Management Expenses of Rs. 2648.57 crores in 2014-15. It increased from Rs. 2111.23 crores in 2013-14, showing an absolute growth of Rs. 537.34 crores (25.45%) year-on-year. UIICL had Management Expenses Ratio to Earned Premium (%) of 30.04% in 2014-15. It increased from 27.77 in 2013-14, showing an absolute growth of 2.27 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.