New India Assurance
BANKING/FINANCE New India Assurance H1 net more than doubles to Rs 205 cr Domestic premium rose 15% to around Rs 5,000 cr Overseas premium increased by 34.14% Mumbai : Public sector general insurer New India Assurance’s net profit more than doubled to Rs 205 crore in the first half of the current fiscal on the back of sound growth in personal and retail lines along with higher premium in motor third party insurance segment. Its net profit stood at Rs 95 crore in the same period of the previous fiscal. “Rise in profitability is mainly on account of sound growth in personal and retail lines, higher premium in third- party motor insurance and fire insurance segment overseas,” the company’s Chairman and Managing Director, G Srinivasan, told reporters here. According to the insurer, global premium grew by 17.48 per cent to Rs 5,838.60 crore in the first half of FY13. While domestic premium rose 15 per cent to around Rs 5,000 crore, overseas premi...