National Insurance

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It knows how to turn from red to black. This Kolkata based public sector company registered a net profit of Rs.418.07 crores for the year ending March 2007, as against loss of Rs.114.64 crores in the previous year. National Insurance Company (NIC) has a network of about 1,000 offices, manned by more than 16,000 personnel and is extended over the length and breadth of the country covering far-off rural areas, townships and metros. Away from the territorial boundaries, NIC’s foreign operations are carried out from its branch offices in Nepal and Hong Kong. It boasts of having more than 200 products catering to the needs of various sectors of the economy. “We are targeting a gross premium income of Rs.4,600 crores in 2007 - 08, compared with Rs.3,827 crores last year,” said V. Ramasaamy, Chairman & Managing Director, NIC. The growth in investment income, focus on retail and health insurance is expected to fuel the growth in profitability and premium income, says the company.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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