ICIC Lombard share market
PRIVATE insurance players belonging to both life and non-life segments have significantly improved their market share during the first half of the current fiscal year ended September 30, as per the figures compiled by the Insurance Regulatory and Development Authority (IRDA).
The market share of private sector life insurers in terms of premium collections has nearly doubled to 10.95 per cent during the first half of current fiscal compared to 5.66 per cent during the corresponding period of last fiscal year.
'It is a buyer’s market; challenge lies with the players to grow the market’
ICICI Lombard General Insurance, a joint venture between ICICI Bank and Canada-based Lombard, has been able to establish itself as a numero uno private sector general insurance company in a short span of two-and-a-half years. With a sound track record of profit and performance, it may become the first insurance company to hit the capital market.
The company’s CEO & managing director Sandeep Bakhshi speaks to Sitanshu Swain of The Financial Express about a range of issues in the liberalised general insurance sector. Excerpts:
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