NIC targets Rs 12,800 crore premium income

During April and May this fiscal, NIC's premium income grew 12.8%

Press Trust of India Kolkata
Last Updated : Jun 10 2014 | 5:13 PM IST
Public sector non-life insurer National Insurance Corporation (NIC) expects to garner premium income worth Rs 12,800 crore in the current financial year, a top company official said.

"This fiscal, we are targeting a premium income of Rs 12,800 crore, as compared to Rs 10,261 crore in the previous fiscal," NIC acting chairman A V Girija Kumar said.

During April and May, NIC's premium income grew higher than the industry, he added.

Also Read

"During April and May this fiscal, NIC's premium income grew 12.8%, as compared to 9% in the overall non-life sector," Kumar told reporters here on the sidelines of a business seminar.

Even last fiscal, NIC's growth was higher at 12% against the industry growth of ten%, he added.

Asked about market share, Kumar said NIC's share was 25% among the four public sector non-life insurers.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 10 2014 | 4:20 PM IST

Next Story