National Insurance Company Limited aims at 20% premium growth.
National Insurance Company Limited (NICL), a public sector non-life (General) insurance company, aims to achieve 20 per cent growth in premium in 2013-14. The company had posted 18 per cent growth in gross written premium at Rs 9,195 crore in 2012-13.
NICL also witnessed a marginal decline in claims ratio at 86 per cent in 2012-13 against 88 per cent in 2011-12.
The company’s profit after tax grew 115 per cent to Rs 696 crore in 2012-13, said a press statement issued by National Insurance Company.