In a remarkable turnaround, National Insurance Company has reported a substantial profit of Rs 424.10 crore in Q2FY24, contrasting sharply with the Rs 1,465.88 crore loss in the same period last year. The Gross Written Premium reached Rs 5,113.20 crore, contributing to a 17% YoY increase in total income to Rs 5,120.33 crore. The underwriting loss significantly narrowed, and the combined ratio improved to 115.31%. Despite positive financial indicators, the solvency ratio slipped into negative territory at (-0.35)%. The Incurred Claim Ratio (ICR) stood at 91.55%, reflecting a resilient performance in the quarter under review.
National Insurance Company Bounces Back with Rs 424 Crore Profit in Q2FY24
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