National Insurance Company hopes to achieve breakeven in three years

Posted on:
Key Points

The general insurance companys net loss stood at Rs 1,679 crore in FY22 against a net loss of Rs 565 crore in FY21..

During the financial year 2018-19, the company had incurred a net loss of Rs 1,696 crore...

Loss making public sector general insurer National Insurance Company is planning to reduce its underwriting losses progressively in next three years to achieve breakeven...

We have repriced many group health products, companys general manager T Babu Paul said on the sidelines of the 8th edition of Insureind, organised by the CII here...

We are looking at growing our retail book by double digits with the tweaking in commission, Paul said.. Notifying the payment of commission regulations for the insurance industry, came into effect from April 1, insurance regulator Irdai replaced the earlier caps on commission payments in different lines of business with an overall cap on expenses of management at the company level..

You might be interested in

Reliance seeks shareholder nod to appoint Ambani as head for another 5 years at nil salary

06, Aug, 23

India Business News: Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and

Multibagger small cap stock Vertoz Advertising announces Q4 results, registered 99% revenue growth

28, Apr, 23

Vertoz Advertising shares: This small cap ad-tech firm gave multibagger returns of over 170% in last one year

Govt may infuse capital in PSU general insurers in Q4 based on performance

22, Oct, 23

India Business News: NEW DELHI: Finance Ministry would consider capital infusion in three loss-making public sector general insurance companies based on their financial pe.

Govt may infuse more capital in public sector general insurers next year

12, Mar, 23

Earlier in 2022, the government had provided ₹5,000 crore capital to three insurers -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.

SBI General looks to raise Rs 700-crore debt

16, Feb, 24

We have been growing at 23%, which is significantly faster than the market growth rate of 13%, said Kishore Kumar Poludasu, MD, SBI General Insurance.

D-Mart Q1 Results: PAT up mere 2.3% YoY to Rs 695 crore despite higher sales

15, Jul, 23

The hypermarket chain operator reported an 18% YoY growth in revenue for the quarter to Rs 11,584.40 crore. The board has also given consent to offer employee stock options, subject to the approval of shareholders at the ensuing annual general meeting.

Shriram Life Insurance posts Rs 156 cr net profit in FY22-23

14, May, 23

Shriram Life Insurance Company Ltd has reported Rs 156 crore net profit for the year ending March 31, 2023 on the back of growth in individual non-single premiums, the company said on Sunday.

Sun Pharma Q4 net profit at ₹1,984 crore

26, May, 23

Sun Pharmaceutical Industries Ltd. reported that its fourth quarter consolidated net profit grew to ₹1,984.5 crore compared with net loss of ₹2,277.3 crore in the same period last year, due to improved performance.

Natco Pharma posts 345% sequential growth in Q4 PAT to ₹276 crore, revenue up 82%

29, May, 23

Natco Pharma posted a healthy growth in fourth quarter of FY23. Q4 PAT more than tripled on a sequential basis, while revenue jumped 82% QoQ.

Oriental Insurance, National Insurance, United India Insurance may get capital infusion in Q4

22, Oct, 23

The capital infusion would be based on the financial performance of the three general insurers in nine months, a report says