National Insurance Company aims for Rs 100-200 cr profit in FY25 ...Middle East

Public sector general insurer National Insurance Company Ltd (NIC) is aiming at a return to profit in the current 2024-25 fiscal, after incurring losses for nearly a decade, an official said on Saturday. The company is expecting Rs 100-200 crore profit this year, NIC Executive Director T Babu Paul said. The Kolkata-based insurer noted that a single-digit revision in policy tariffs is expected as medical treatment costs have increased, he said. "We were able to narrow down the loss to Rs 187 crore in FY'24 (2023-24) from a whopping Rs 3,865 crore loss in the previous year. We expect to post a net profit of Rs 100-200 crore, provided no catastrophe hits us in the remaining quarters," Paul said

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