GROSS WRITTEN 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 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.
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."
Cholamandalam Financial Q4 Results: Cons PAT jumps 27% YoY to Rs 1,143 crore
Cholamandalam Financial Holdings Ltd on Friday reported a 26.9 per cent growth in its consolidated profit after tax at Rs 1,143.75 crore for the March 2024 quarter, the company said. The city-based company, part of the diversified conglomerate Murugappa Group, had registered net profits of Rs 900.77 crore during the corresponding period of last year.
- Go To Page 1
Bajaj Finserv Q4 Results: PAT jumps 20% YoY to Rs 2,119 crore
Bajaj Finserv Q4 Results: Consolidated total income for the March quarter stood at Rs 32,042 crore as against Rs 23,625 crore a year-ago, an upside of 36% YoY.
Bajaj Finserv Q3 Results: Cons PAT rises 21% YoY to Rs 2,158 crore, income grows 34%
Bajaj Finserv Q3 Results: The strong earnings growth was backed by a robust show by the arm Bajaj Finance Ltd.
SBI Life Q3 Results: PAT rises 6% YoY to Rs 322 crore; net premium income jumps 16%
Net premium income for the third quarter increased 16% year-on-year (YoY) to Rs 22,316 crore. The growth in individual new business premium by 17% to Rs 17,760 crore in the nine months of fiscal 2024. NBP rose 21% to Rs 26,000 crore in the nine months ended December, aided by growth in individual annuity business by 35%.
SBI Life Q2 Results: Net profit flat at Rs 380 crore; premium income up 22% YoY
Net premium income during the second quarter increased 22% year-on-year (YoY) to Rs 20,050 crore. It was Rs 16,477 crore in the corresponding quarter of the previous year.
Bajaj Finserv Q2 Results: Net profit jumps 24% YoY to Rs 1,929 crore; revenue rises 25%
Against the backdrop of upbeat macroeconomic conditions, Bajaj Finserv said its subsidiaries recorded a strong operating performance in the second quarter. Bajaj Finance, in which Bajaj Finserv holds a 52.4% stake, recorded 28% growth in its consolidated net profit at Rs 3,551 crore, led by robust AUM growth, higher net interest income, and better asset performance.
August premium growth: Bajaj Allianz, Tata AIG corner top two ranks
The industry saw premiums amounting to Rs 19,291 crore, marking a 12.80% increase compared with the same month last year. Bajaj Allianz General Insurance saw 64% growth while Tata AIG General Insurance saw a 26% jump in the gross written premium, when the listed state-run insurer New India Assurance grew 2.63%.
Q1 Results Today: SBI Card, M&M Financial, Nazara Tech and Star Health
SBI Card's net profit decreased by 5% YoY to Rs. 593 crore for Q1 FY24 while revenue from operations increased by 24% YoY to Rs. 4,046 crore. M&M Financial's profit was at Rs. 353 crore for Q1, a YoY growth of 58%, and total income was at Rs. 3,125 crore, a 25% YoY increase.
Bajaj Finserv Q1 Results: Cons PAT spikes 48% YoY to Rs 1,943 crore; revenue jumps 47%
Its subsidiary Bajaj Finance recorded its highest-ever quarterly increase in customer franchise of 3.84 million and the highest-ever new loans booked of 9.94 million in the June quarter.
SBI Life Q1 Results: Profit jumps 45% YoY to Rs 381 crore; premium income rises 19%
SBI Life records 18% growth in individual new business premium to Rs 4,060 crore in the first quarter, while the overall new business premium rose 11% to Rs 6210 crore, aided by 18% growth in single premium business.
'Life Insurers' premium growth may be muted
In the first quarter of FY24, HDFC Life, SBI Life, and Max Financial Services are projected to achieve year-on-year annual premium equivalent (APE) growth of 15%, 8%, and 8%, respectively, while ICICI Prudential Life is likely to experience a 9% decline in APE on year. According to Motilal Oswal, value of new business (VNB) growth is estimated at approximately 8% on-year for SBI Life, 28% for HDFC Life, and 17% for Max Financial Services, while ICICI Prudential Life's VNB is expected to decline by 5% on year in the first quarter.
Star Health Q4 Results: Profit at Rs 619 crore, gross written premium grows 13% YoY
The operating expense to GWP ratio was at a healthy 15.9% in FY23 versus 16.0% in FY22. At 2.14x, the company registered a robust solvency ratio for the year, higher than the minimum regulatory requirement of 1.5x, Star Health said.
Bajaj Finserv Q4 Results: Profit rises 31% YoY to Rs 1,769 crore; total income up 25%
Bajaj Finserv Q4 Earnings: The Board of Directors recommended a dividend of Rs 0.80 per share, which is 80% on face value of Rs 1. The total amount of dividend is Rs 127.43 crore.
SBI Life Q4 Results: Profit rises 15% YoY to Rs 777 crore, misses estimates
Net premium income for the reporting quarter jumped 14% to Rs 19,897 crore as against Rs 17,434 in the year-ago period
ICICI Lombard Q4 net rises 40%
ICICI Lombard's income from investments also witnessed a strong growth of 14%, amounting to ₹616 crore for the quarter against ₹538 crore in the same quarter of the previous year.
ICICI Lombard Q4 Results: PAT jumps 40% YoY to Rs 437 crore; dividend declared at Rs 5.5/share
The company's gross premiums written jumped 7% to Rs 5,340 crore for the quarter under review against Rs 5,000 crore in the same period last year.
IFFCO-Tokio crosses Rs 10,000 crore gross written premium in FY23
IFFCO-Tokio General Insurance Company was incorporated on in December 2000. It offers retail products like motor, health, travel, home and personal accident insurance and corporate products, including, property, marine and liability insurance.
Non-life insurers' gross premium income rises 24% to Rs 21,327 cr in April
Of the total 31 non-life insurance companies, 24 general insurers registered a growth of 23.57 per cent in their gross direct premium written in April at Rs 19,705.86 crore, according to data from the Insurance Regulatory and Development Authority of India (IRDAI).
Aditya Birla Health Insurance gross written premium jumps 39 pc to Rs 764 cr in H1 FY22
Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), has completed five years with a gross written premium (GWP) of Rs 764 crore in H1 FY22, the insurer said in a release. It had registered a gross written premium of Rs 550 crore in the first half of the last fiscal.
Non-life insurance companies gross direct premium rises 5.5 per cent to Rs 15,743 crore in November
On a cumulative basis, the gross direct premium written by all the insurers during April-November period of FY22 increased 11.72 per cent to Rs 1,42,128.88 crore, as per Irdai data.
Niva Bupa Health Insurance projects Rs 5,000-cr gross written premium by 2023-24
Niva Bupa Health Insurance Company (formerly Max Bupa Health Insurance Company) said it has been aggressively expanding its presence across Tier-II, III and IV cities, opening one new office every 3.5 days in the last year. Currently, Niva Bupa has a presence in 350 cities that will further increase to over 600 cities by FY2023-24.
Non-life insurers' gross direct premium up 7 pc at Rs 14,809 cr in June
Of these, the 25 general insurance companies registered 4.9 per cent rise in gross direct premium during the month at Rs 13,041.51 crore as against Rs 12,435.71 crore in the year-ago period.
Bharti AXA General Insurance reports gross written premium of Rs 3,183 cr in FY21
Bharti AXA General Insurance reported a nominal growth of 0.82 per cent in its gross written premium (GWP) at Rs 3,183 crore in the fiscal 2020-21, as against Rs 3,157 crore in FY20.
SBI General Insurance FY21 gross written premium rises 22% to Rs 8,312 crore
The non-life insurer increased its customer base by more than 3 crore during FY21.
Load More
