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New India Assurance net at Rs. 716 crore

Corporate Reporter

CHENNAI: The New India Assurance Company has recorded a gross direct global premium of Rs. 5,675.55 crore in 2005-06 against Rs. 5,103.16 crore in 2004-05.

In its Indian operations the company's gross premium income was Rs. 4,791.50 crore against Rs. 4,210.81 crore.

The company's global net premium has gone up to Rs. 4,342,65 crore from Rs. 3,895.10 crore.

The company recorded a net profit of Rs. 716 crore against Rs.402 crore.

Total assets have gone up to Rs. 27,025.58 crore from Rs. 19,827.19 crore.

The company has raised its paid-up capital to Rs. 200 crore from Rs. 150 crore by issuing bonus shares. A dividend of 65 per cent has been proposed absorbing Rs. 130 crore.

For 2006-07 the company has set a target of Rs. 5,270 crore of gross direct premium in India and Rs. 1,250 crore from foreign operations.

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