Comments
HDFC ERGO General Insurance, a leading private general insurer, on Friday reported a 83.2 percent increase in net profit for the financial year ended March 31, 2017 at Rs 277.2 crore ( Rs 151.3 crore).
Gross direct premium for the financial year under review grew 72.8 percent to Rs 5,840 crore (Rs 3,380 crore).
Market share has improved from 3.5 percent to 4.6 percent, a company release said.
Commenting on the financial performance, Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance said that company has recorded growth across all its product segments. Growth has been strongest in crop insurance, followed by motor and health, he said.
"Together these segments have helmed our growth story in 2016-17. Over the last five years we have grown at CAGR of 26 percent compared with industry CAGR of 17 percent", he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.