GROSS PREMIUM
Star Health aims to double Gross Written Premium to Rs 30,000 cr in 4 yrs: MD
Star Health and Allied Insurance Company Ltd. has set a target to double its Gross Written Premium to about Rs 30,000 crore over the next four years. The company, based in Chennai, has recorded a profit after tax of Rs 845 crore, a 37% increase from the previous financial year. The company has approved claims of about Rs 44,000 crore since its inception in 2006.
Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
Star Health looking to grow 18%, improve claims ratio by 50 bps: Anand Roy, CEO
Star Health & Allied Insurance expects 18-20% growth in gross written premiums this year, aiming to double premium income in four years. CEO Anand Roy discussed the company's strategies with Shilpy Sinha.
Go Digit hits second year of profit in FY24, shares surge
The company's shares were up nearly 10% in the early trade on Wednesday, the stock closed at Rs 341,75, up 1% from the previous day. In the last quarter of FY24, Go Digit reported Rs 2,336 crore worth of gross premium collected, up 19.4% from Rs 1,955 crore in the prior quarter. For the full year, the company collected Rs 9,016 crore in premiums, marking a 24% rise from Rs 7,243 crore in FY23.
Go Digit Q4 Results: PAT jumps 104% YoY to Rs 53 crore; gross written premium up 19%
The net profit stood at Rs 182 crore for the full financial year as against Rs 36 crore in FY23, recording a 405% jump. The gross written premium for the full financial year stood at 9,016 crore versus Rs 7,243 crore in FY23.
Which city in India has the highest rental yield
Net rental yield: If, however, you subtract maintenance expenses, property taxes, home insurance premium, etc, it will give you net rental yield. This gives a more realistic idea of the return you can expect from your property.
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What rental yield is and how it is calculated
If you are confused by personal finance terms, jargon or calculations, here’s a new series to simplify and deconstruct these for you. In the first part, ET Wealth explains what rental yield is and how it is calculated.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 crore
GIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564 crore in the same quarter a year earlier.
United Spirits shares rally 3% after Q4 results. Should you buy, sell or hold?
United Spirits (USL) shares experienced a 3% surge on the BSE. This increase came after the company announced a significant rise in consolidated net profit, which doubled to Rs 241 crore for the March quarter.
General insurers expect premium income growth of 32 pc to Rs 3.7 lakh cr by FY26: Report
The industry's GDPI saw a robust 15.5 per cent year-on-year (YoY) expansion in 2023-24, rising to Rs 2.79 lakh crore on the health segment, it said. Apart from this, the report said that the growth in the motor segment was healthy, supported by the increase in new vehicle sales (two-wheelers, or 2W, rose by 13.3 per cent YoY and passenger vehicles, or PVs, by 8.4 per cent YoY in 2023-24).
Shriram General Insurance records Q4 net profit at Rs 121 crore; GWP rises 34%
Commenting on the financial performance, Shriram General Insurance Company Ltd MD and CEO Anil Aggarwal said, "The year gone by has been a milestone for our business as we recorded the highest ever growth since we began our operations in 2008. Our Gross Written Premium rose to 34 per cent exceeding the industry growth of 12.8 per cent."
Embassy REIT to invest Rs 3,800 cr in 4 years to complete construction of 61 lakh sq ft office space
To expand its portfolio, Aravind Maiya, Chief Executive Officer of Embassy REIT, said the company is constructing 6.1 million (61 lakh) square feet of premium office space in Bengaluru to cater to rising demand from global capability centres (GCCs) and also domestic players.
Smartphone companies dial up after-sales service network
"Established industry players are increasingly embracing apprenticeship initiatives aimed at cultivating a skilled workforce. These programmes offer courses such as service engineer IT hardware, repair technician, wireman control panel electronics, and electronics mechanic, targeting students who have completed 8th or 10th grade for entry into the field," he added.
Spotify Q1 Results: Gross profit crosses 1 billion euros for first time
Spotify's quarterly gross profit topped 1 billion euros ($1.1 billion) for the first time after it reined in marketing spending, although that meant the music streaming giant missed its forecast for monthly active users.
Spotify's monthly user numbers miss estimates on lower promotions
First-quarter MAUs rose 19%, but missed Spotify's own guidance and a median of analysts' forecasts of 618 million. It also forecast current-quarter MAUs at 631 million, missing estimates of 636.3 million, according to IBES data from LSEG.
ICICI Lombard Q4 PAT rises 18.9% to Rs 520 crore
During the same period in the previous year, the company had reported a net profit of ₹437 crore. The company declared a final dividend of ₹6 for FY24, taking the total dividend payout to ₹11 a share.
HDFC Ergo Paws n Claws pet insurance cover: Who can purchase, what is covered, what is not, premium, duration
HDFC ERGO's Paws n Claws offers end-to-end pet care, encompassing everything from diagnostics to procedures and medications, guaranteeing thorough coverage. The cover extends the flexibility to insure up to 5 pets under a single policy, with a provision for commercial breeders who can insure up to 10 pets aged between six months to five years, and renew the policy for up to 8 years.
Foreign funds' gross purchases top Rs 4 lakh crore in March, a record
But that's the seemingly outlandish threshold overseas funds were close to overhauling last month in gross purchases of Indian stocks - thanks to mouth-watering valuations for a raft of large-cap shares, and brightening re-rating prospects for many after conclusion of the biggest democratic exercise on the planet.
India can sustain 8 pc growth, even higher: RBI bulletin
The global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators, pointing to further levelling in the period ahead, said the article authored by a team led by RBI Deputy Governor Michael Debabrata Patra.
Audi launches new version of e-tron, the Q4 55, with better specs
Audi introduces the upgraded Q4 55 e-tron in India, with an 82 kWh battery, 258 miles of range, enhanced ride comfort, and a sportier appearance. It solidifies Audi's position in the electric vehicle market.
ETMarkets Management Talk | Mankind Pharma MD explains 2 reasons behind drop in margins
Mankind Pharma's gross margin fell due to inventory accruals and production capacity issues. Revenue growth driven by domestic business and exports. Consumer healthcare business undergoing turnaround with market share gains. Incremental gains expected in chronic therapies. Focus on secondary sales, rural penetration, flagship brands, and market share growth. Strengthening IT systems, strategic focus on user base, and product premiumization.
Streaming subscriber growth in US halved last year
Growth in the premium subscription-video-on-demand category slowed to 10.1% last year from 21.6% in 2022. But its overall growth has more than doubled in four years, signaling a steady re-subscription trend.
Rupee strengthens aided by uptick in Asian peers, forward premiums slip
The rupee was at 82.87 against the U.S. dollar as of 10:25 a.m. IST, higher by 0.11%, compared to its close at 82.9650 in the previous session.
Rupee hits two-week high, forward premiums choppy; volumes improve
The Indian rupee reached a two-week high, aided by dollar sales by a UK-headquartered bank, while forward premiums were off their highs following the presentation of the budget earlier in the day.
HDFC Bank’s era of premium valuations is over
Financial metrics that stood out in the industry gave HDFC Bank a premium valuation that was competitors’ envy. Now that it resembles its peers, the valuation may also remain aligned.
Rupee little changed, forward premiums inch higher
The Indian rupee was largely flat on Wednesday despite broad weakness in its Asian peers, with traders expecting the local currency to trade in a tight range through the day.
Keystone Realtors secures 3-acre redevelopment project in Mumbai’s Malad west
Keystone Realtors, a part of Rustomjee Group, has secured the rights to redevelop two housing societies in Mumbai's Malad West suburb, covering nearly 3 acres. The project is expected to have a sale potential of over 3.42 lakh sq ft of RERA carpet area, with an anticipated Gross Development Value (GDV) exceeding Rs 1,200 crore.
ICICI Lombard's profit drops 2.2%, premium income up 17.4%
The company said that excluding the one-time impact of the reversal of tax provision, the profit after tax grew by 19.2% during the first half of FY24 and 24.8% during the second quarter.
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