new delhi countrys largest general insurer new india assurance is expecting 10 per cent growth in its gross premium in the current financial year that will help the stateowned company retain its market share we would expect premium to grow at 10 per cent during the fiscal against 51 per cent recorded during 200708 new india assurance chairman and managing director b chakrabarti said during 200708 the public sector behemoth collected rs 5274 crore premium registering a growth of just 51 per cent over the previous year so far for the first quarter ended june 2008 the insurer increased its business by 63 per cent to rs 153563 crore per cent against rs 1444 crore in the same quarter previous year as per the first quarter figures released by the insurance regulator irda the company commands market share of about 18 per cent among 14 players however this is nearly 1 per cent less than the last year same quarter during apriljune 2007 the company had a market share of about 194 per cent talking about new initiatives chakrabarti said the firm is in the process of putting in place core insurance solution cis the new technology platform would streamline the business and would be beneficial to customers it would help customers pay premium online and transfer of account from one part of country to another can be done with a click of button he said adding it would be like any time insurance the company would migrate fully to the new technology platform by the end of current year he said