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:

1.Out of 23 Private Companies 17 companies are still showing total carried forward losses, some are in operation now for more than 12 years.

2.Higher amount of claims are being rejected by the private companies as compared with LIC of India

3.During the year 2012-13 Claim settlement performance of Private Companies has reduced as compared with last year.

4.The outstanding claims of private companies are also on higher side; this shows delay in settlement of claims by private companies