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Tata AIG General Ins posts Rs 11.5-cr profit

Tata AIG General Ins posts Rs 11.5-cr profit
PTI
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First Published: Tue, Dec 07 2010. 04 40 PM IST
Updated: Tue, Dec 07 2010. 04 40 PM IST
Mumbai: Tata AIG General Insurance Company (Tata AIG) has reported a profit after tax of Rs 11.5-crore for the half-year ended 30 September, 2010, as against a loss of Rs 7.2-crore for the same period in the previous year.
The rise in profit was on account of increase in gross direct premium and net earned premium witnessed by the company, a press release issued here on Tuesday stated.
The company’s direct premium income grew 34% whereas the net earned premium grew 23% over the previous year.
This growth in profit was also supported by the reduction in loss ratio by 9 percentage points over the last year and reduction in Expenses of Management (including commission paid) as percentage of Gross Direct Premium by 4 percentage points over last year, the release said.
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First Published: Tue, Dec 07 2010. 04 40 PM IST