Ad Here  
February
March
April
May
June
July
 
 
Tata gets 4-star rating for Zest Rane targets Rs.5500 crore topline by 2018-19 Hyundai to focus on SUVs and AMT variants AL secures orders for 3600 buses IOB on turnaround path LVB posts 31 per cent growth in Q1 net profit PPP model for infrastructure development Consolidating leadership position in smartphones RoC in the dock... It takes two to tango Yamaha unveils scooter boutique V-Guard launches app-enabled water heater system Shriram Life clocks more than Rs.1000 crore premium in 2015-16 Maruti – for young buyers Solar installations exceed 2015 capacity in five months TI Cycles plans retail expansion to drive sales for premium bicycles Kone India eyes further growth in elevator market AL introduces Guru & Partner Is this a generation gap? Daimler’s truck exports from Chennai cross 5000 units Record two-wheeler sales HPCL plans Rs.61,000 crore capex over 5-years Welcome focus to improve rural India... Gamesa to set up a plant in Nellore Aurobindo Pharmacy: good turnaround He excels in the nuts and bolts of entrepreneurship L&T profit up by 11 per cent Tata Motors joins compact SUV bandwagon with Nexon Carnival Films acquiring 3000 screens pan India Tata Motors aims to be among the Top 3 global CV & PV firm ITC – steep excise hike L&T bags the Mumbai Trans-harbour link order Mercedes-Benz sales continue to zoom Toyota and Suzuki to introduce EVs in India by 2020 Emami – a new growth mantra Increasing market share Last stages TVS Automobile invests Rs.75 crore in start-up firms CAPITAL NOTES Housing demand revival Bajaj Finserv – Q1: fare well Tata Motors bets on new launches Dish TV – subscriber additions encouraging Tata Motors charts investments in PV and CV businesses Tata Steel, ThyssenKrupp sign MoU to merge European units TN government keen on revival of operations at Nokia complex Ode to Ratan Tata Are they really independent? Forging industry worried over lower supply of steel and its price Preparing for the next growth curve Titan Company – sales recovery to kick in New India Assurance posts impressive show A niche in FMCG business... The unexpected exit ITC chairman calls for policy impetus to transform agriculture Land wars Singur minus Nano – victory or folly? A welcome initiative-even critics are recognised Hyundai India achieves 7 mn production at Chennai factory Sivasankaran enters taxi space to take on Uber and Ola Wabco launches safety system Eyes strong growth in 2016-17 Smooth sailing of SAIL TVS Srichakra plans capacity expansion Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Hindalco – re-rating M & M unveils driverless technology for tractors Michelin to double Chennai capacity Right to privacy – now it’s fundamental! AL wins Deming prize again Nissan exit shouldn’t affect ALL PSU non-life firms seek to protect share The gainers and the losers Back in growth mode When small is not so beautiful… Daimler grows sales and share in India L & T set bigger ambitions in defence business 29 per cent jump in TCS revenues Vellayan is back, after 150 days Chinese smart phones flourish in small towns too! From the toughest to the best year Sundram Fasteners rejigs international L & T’s floating dock for navy E.I.D Parry (India) Ltd: another sweet year Smartphone onslaught by Chinese brands
 
New India Assurance posts impressive show

State-owned New India Assurance Company Ltd, India’s largest insurer, has reported a significant increase in its net profit at Rs.748 crore for the quarter ended 

30 September, 2017, as against Rs.260 crore in a year ago period. This was its first results post listing on the stock exchanges in early November. The gross written premium was Rs.6489 crore, a growth of 12 per cent compared to the same quarter last year.

G Srinivasan, CMD of New India Assurance, attributed the impressive performance to drop in claims ratio and operating expense ratio, supported by various steps taken by the company. Some of the initiatives included repricing of health insurance products and more efficient measures in claims control. Retail health premiums increased by 25 per cent, while corporate health premiums rose between 20 and 40 per cent. Claims ratio in health had come down from 111 per cent to 102 per cent while motor claims ratio was down from nearly 88 per cent to 83 per cent. Operating expenses were also down by 4 per cent, mainly due to scaling up of business without any increase in costs. This helped in reduction of the combined ratio at 111.76 per cent, against 119.81 per cent in the previous year.

The company declared an interim dividend of 75 per cent. Srinivasan said the industry would grow 18 to 20 per cent in the current fiscal and New India’s growth will also be in line with the market. New India has a share of 15 per cent in the Rs.1.30 lakh crore general insurance market. The company’s solvency margin was at a comfortable 2.24. The company had raised Rs.9600 crore through its IPO.


Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com