State-run general insurers continue to lose market share in terms of gross direct premium underwritten to their private peers. Collective market share of the four public sector general insurance companies fell 426 basis points year-on-year to 37.86% at the end of the first quarter this fiscal. All four PSU insurers — New India Assurance, United India Insurance, Oriental Insurance Company and National Insurance Company — lost market shares during the 12-month period ended June 30. New India Assurance, which continues to have the highest market share in the general insurance space at 17.53%, lost 235 basis points year-on-year during the …
