New India Assurance turns around, reports net profit of Rs 517 cr

New India Assurance, the largest general insurance company in India, has reported a net profit of Rs 517 crore in the third quarter ended December 2012 on rising premium income and improved operational efficiency. It had posted a loss of Rs 177 crore in the corresponding period of previous fiscal. Read more

Life insurance industry’s profit doubles to Rs 5,974 cr

Even as premium income fell, the life insurance industry’s net profit more than doubled during 2011-12, at Rs 5,974 crore, against Rs 2,657 crore the previous year. Of the 24 life insurers in business during the last financial year, 14 reported profits, according to the Insurance Regulatory and Development Authority’s annual report for 2011-12. Read more