Page 48 - Insurance Times April 2023

insurance industry was Rs. 2,857 crore as against the net General Insurance Co. Ltd., Rs. 458.72 crore by Shriram
profit of Rs. 3,853 crore in 2020-21. General Insurance Co. Ltd., Rs. 4.79 crore by Universal
Sompo General Insurance Co. Ltd. and Rs. 1.01 crore by
Out of the four public sector insurers, one has reported PAT Reliance General Insurance Co. Ltd.).
and three have reported loss after tax during the year 2021-
22. New India reported a PAT of Rs. 164 crore during the
Dividend Paid by General and Health
year 2021-22 against a PAT of Rs. 1,605 crore in 2020-21.
Insurers
National, Oriental and United reported loss of Rs. 1,675
(Rs. crore)
crore, Rs. 3,115 crore and Rs. 2,136 crore respectively.
Insurer 2020-21 2021-22
Among the 20 private general insurers, while 13 companies
Public Sector Insurers --- ---
reported PAT, the remaining seven companies incurred
Private Sector Insurers 1,001.06 1,197.70
losses during the year 2021-22. Out of the five stand-alone
health insurers, only one has reported PAT and the Stand-alone Health Insurers --- ---
remaining four companies have incurred losses during the Specialised Insurers --- ---
year 2021-22. Both the specialized insurers viz., Agriculture
Total 1001.06 1,197.70
Insurance Company of India Ltd. and ECGC Limited have
Note:
reported PAT of Rs. 738 crore and Rs. 875 crore respectively
1. Above figures include final dividend and interim dividend
during the year 2021-22 as compared at Rs. 490 crore and
also.
Rs. 460 crore respectively during the year 2020-21.
2. Reclassification/Regrouping in the previous year's
figures, if any, by the insurer has not been considered.
Profit After Tax of General and Health
Insurers Offices of General and Health Insurers
(Rs. crore) As on March 31, 2022, the general and health insurers were
operating from 10,775 offices as against 11,248 offices as
Insurer 2020-21 2021-22
on March 31, 2021, all over the country. Compared to the
Public Sector Insurers -1,467.29 -6,761.16
previous year, there is a decrease of 473 offices. As per tier-
Private Sector Insurers 5,729.06 4,098.77
wise classification of offices, it is observed that 70 per cent
Standalone Health Insurers -1,359.73 -1,808.01 of offices of general and health insurers are located in Tier
Specialised Insurers 950.50 1,613.46 I cities. About one per cent of general insurance offices
alone are in Tier VI locations with a population of less than
Total 3,852.53 -2,856.93
5,000.
Note: Reclassification/Regrouping in the previous year's
figures, if any, by the insurer has not been considered. District-level analysis reveals that general insurers have
offices in 77 per cent of total districts in the country (575
districts) and SAHI is having offices in 52 per cent of total
Returns to Shareholders of General and
districts in the country (387 districts). There are 11 states/
Health Insurers
UTs which have the presence of general insurance office in
Private sector general insurers alone paid dividend during all their districts and 16 States/UTs are having SAHI offices
the year 2021-22 (Rs. 123.45 crore by Bajaj Allianz General in more than 50 per cent of their districts. State/UT wise
Insurance Co. Ltd., Rs. 231.65 crore by HDFC Ergo General distribution of general and health insurance offices with
Insurance Co. Ltd., Rs. 378.08 crore by ICICI Lombard district wise coverage are provided in Statement 9.

42 April 2023 The Insurance Times