General insurers’ premium collection increases on high auto sales

According to IRDA, the overall premium of the industry rose 22% to Rs42,568 crore against Rs34,984 crore during the previous financial year

The premium income of general insurance companies, except for Reliance General, rose last fiscal on higher auto sales, increase in health insurance products and an across the-board rise in premium rates.

According to the Insurance Regulatory and Development Authority (IRDA), the overall premium of the industry rose 22% to Rs42,568 crore against Rs34,984 crore during the previous financial year.

Most companies have shifted their focus to motor and health segments. Meanwhile, insurers have increased premiums on group health insurance, which was a loss-making segment for them.

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Royal Sundaram’s premium collection rose 21% to Rs115 crore in March

Royal Sundaram recorded a growth of 24.92% to Rs1,143.70 crore during April 2010-March 2011 against Rs915.56 crore during 2009-10

Royal Sundaram Insurance's premium collection rose by 21.02 % to Rs115.10 crore in March 2011 against Rs95.11 crore in the corresponding period last year.

The premium collection in March 2011 increased to Rs115.10 crore compared to Rs90.87 crore in December 2010. Further, premium collections in January 2011 rose to Rs105.76 crore and declined to Rs93.5 crore in February 2011. However, figures in March 2011 rebounded from the fall in February 2011 and stood at Rs115.10 crore.

Royal Sundaram recorded a growth of 24.92% to Rs1,143.70 crore during April 2010-March 2011 against Rs915.56 crore during 2009-10.

In March 2011, it cornered a market share of 2.47% in the total premium collection of non-life insurance sector.

The premium collection of 15 private non-life insurance players together rose by 5% to Rs1,708 crore, but, it was lesser than the 26% increase in February 2011.

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Sanghvi Forging IPO opens on 4th May

Sanghvi Forging IPO closes for subscription on 9 May 2011

Sanghvi Forging & Engineering is entering the capital markets with an initial public offering (IPO) of Rs36.90 crore. The price band for the issue has been fixed at Rs80 at lower level and Rs85 at upper level. The issue opens on 4 May 2011 and closes for subscription on 9 May 2011.

Sanghvi Forging & Engineering is engaged in the business of manufacture and marketing of stainless steel forged and machined subtends, forged flanges, forged fittings and CNC machined forged parts & automobile components in India. The company has its own forge shop, die shop, heat treatment shop, CNC based machine shop.

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