India Assurance Co registers Rs 517 cr profit

GK NEWS NETWORK

Srinagar, Feb 7: India Assurance Co Ltd, India's largest general insurance company has recorded Rs 517 crore profit after tax for quarter third, as against Rs 177 crore loss the company had registered in the corresponding period of the previous year. The company's third quarter results improved upon the turnaround trend recorded in the half yearly results, the company in a statement said.
 The investment income of the company has grown more than Rs 300 crore from Rs 1709.14 crore to Rs 2055 crore and the company continued to manage largest investment corpus in the General Insurance market as direct insurer.
 The market value of investments touched Rs 35,337 Cr as against Rs 27,498 Cr at the end of Dec 2011, a growth rate of 28.51 %. The net worth went up by 13% to reach Rs 7,601, which again is the highest in the Industry.
 The New India Assurance Co ltd, has been adjudged as the 'Best Medical Insurer' by Outlook Money magazine and it has won SKOCH financial inclusion award for Micro Insurance.

Lastupdate on : Thu, 7 Feb 2013 21:30:00 Makkah time
Lastupdate on : Thu, 7 Feb 2013 18:30:00 GMT
Lastupdate on : Fri, 8 Feb 2013 00:00:00 IST




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