Comments
SBI General Insurance registered a drop in net profit at ₹75 crore for the quarter ended June 30, 2019, compared to ₹113 crore in the same period a year ago.
The drop in profit of the life insurance subsidiary of State Bank of India, the country’s largest lender, was attributed to higher tax outgo.
The insurer’s gross underwritten premium grew 26.4 per cent to ₹1,278 crore in the first quarter of the fiscal from ₹1,011 crore a year ago. It made an underwriting profit of ₹1.47 crore in the April to June 2019 quarter, compared to ₹6.91 crore in the same period a year ago.
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.