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14 p.c. drop in Oriental Insurance net profit

NEW DELHI: Oriental Insurance Company Ltd. (OIC) has recorded a 14 per cent decline in its net profit at Rs. 284 crore in 2005-06 although its premium income increased by 16.8 per cent to Rs. 3,610 crore from Rs. 3,090 crore in 2004-05. The company has attributed the fall in net profit to continuing losses in motor insurance and health insurance businesses as also the losses incurred due to claims in Mumbai owing to floods.

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14 p.c. drop in Oriental Insurance net profit

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