The merger proposal of three public sector insurers by the government, solvency issues and unfair practices by private players in the motor business are being cited by experts for the erosion in market share by public sector players. The four public sector companies, led by New India Assurance, have a market share of 42.50 per cent at the end of FY 2018-19 as compared to almost 48 per cent in 2017-18. The total private sector market share, including health insurers, has gone up to around 56.34 per cent from 52 per cent last year. The private sector insurers (excluding the stand alone health insurers) led by ICICI Lombard General Insurance, have increased their market share to 50.47 per cent in 2018-19.