Profit & Loss and Death Claim Analysis of All Life Insurers for the Year 2012-13
| Profit/Loss (in Crores) | Company Name | Death Claims | |||
|
For the year
2012-13 |
Total Carried forward as on 31/03/2013 | % of Claim Amount Paid | % of Claim Amount Rejected | % of Claim Amount Pending | |
| -16.96 | -117.68 | Aegon Religare | 57.60 | 42.40 | 0.00 |
| 32.00 | -1372.94 | Aviva | 78.74 | 30.23 | 1.04 |
| 1343.57 | 3635.58 | Bajaj Allianz | 78.74 | 14.14 | 7.11 |
| -119.29 | -1867.59 | Bharati AXA | 71.61 | 23.20 | 5.19 |
| 541.50 | -1242.49 | Birla Sunlife | 69.67 | 69.67 | 10.22 |
| 23.50 | -733.99 | Canara HSBC | 87.23 | 8.75 | 4.01 |
| -132.39 | -507.95 | DLF Pramerica | 22.91 | 18.48 | 18.48 |
| -64.72 | -93.95 | Edelweiss Tokio | 15.73 | 77.13 | 7.14 |
| -68.33 | -1164.53 | Future Generali | 58.98 | 31.08 | 9.95 |
| 455.72 | -843.00 | HDFC Life | 87.80 | 87.80 | 5.98 |
| 1569.61 | -1164.35 | ICICI Prudential | 90.71 | 8.57 | 0.73 |
| 9.24 | -423.11 | IDBI Federal | 72.13 | 21.82 | 6.05 |
| 39.58 | -228.95 | India First | 62.09 | 30.79 | 7.12 |
| 23.07 | -1127.07 | ING Vysya | 69.27 | 19.05 | 10.90 |
| 79.28 | Kotak Mahindra | 15.84 | 15.84 | 4.88 | |
| 475.39 | -269.33 | Max Life | 88.43 | 11.23 | 0.33 |
| 48.34 | 2.17 | PNB Met Life | 73.50 | 18.85 | 7.57 |
| 380.42 | -2161.77 | Reliance Life | 74.94 | 15.74 | 9.32 |
| 32.56 | Sahara | 83.20 | 8.57 | 7.18 | |
| 622.17 | 1682.99 | SBI Life | 92.30 | 2.68 | 5.02 |
| 85.03 | 162.72 | Shriram | 50.87 | 39.31 | 9.82 |
| -17.07 | 142.34 | Star Union Dai-ichi | 80.06 | 2.15 | 17.80 |
| 331.54 | -966.21 | Tata AIA | 74.98 | 18.24 | 6.78 |
| 5707.79 | -8607.83 | Private Total | 78.81 | 14.93 | 6.24 |
| 28727.60 | * | LIC of India | 95.66 | 2.14 | 1.96 |
Source: IRDA's Annual Report 2012-2013 Available at www.irda.gov.in
Available at www.irda.gov.in
In case of LIC of India Surplus generated is not carried forward. Out of total surplus generated for the year 95% (₹27291.22 crores) is distributed among the policyholders and balance 5% (₹1436.38 crores crores) is Govt of India share.
Notes:
Out of 23 Private Companies 17 companies are still showing total carried forward losses, some are in operation now for more than 12 years.
Higher amount of claims are being rejected by the private companies as compared with LIC of India
During the year 2012-13 Claim settlement performance of Private Companies has reduced as compared with last year.
The outstanding claims of private companies are also on higher side; this shows delay in settlement of claims by private companies