ICICI Lombard General Insurance today reported a profit after tax of Rs 144 crore for the year ended March 31, 2010.
The private sector general insurer had a net profit of Rs 24 crore in the previous fiscal (2008-09), ICICI Lombard said in a statement.
"We will continue to invest in robust underwriting, cost effective distribution and a scalable service architecture while seeking to build long term franchise," ICICI Lombard General Insurance Managing Director Bhargav Dasgupta said.
On a year-on year, the gross written premium of the insurer dropped to Rs 3,694.7 crore at the end of FY10, from Rs 3,749.2 crore in the year-ago period.
During the year the company issued over 44 lakh policies compared to 40 lakh issued in FY09, the statement added.
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