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Profit of Public Sector General Insurance Companies in 2013-14 and 2014-15

December 11, 2015

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New India Assurance Co. Ltd. (NIACL) had Net Profit before Tax of Rs. 1776.3 crores in 2014-15. It increased from Rs. 1294.4 crores in 2013-14, showing an absolute growth of Rs. 481.9 crores (37.23%) year-on-year. NIACL had Profit after Tax of Rs. 1431.23 crores in 2014-15. It increased from Rs. 1088.96 crores in 2013-14, showing an absolute growth of Rs. 342.27 crores (31.43%) year-on-year.

National Insurance Co. Ltd. (NICL) had Net Profit before Tax of Rs. 1196.74 crores in 2014-15. It increased from Rs. 1007.79 crores in 2013-14, showing an absolute growth of Rs. 188.95 crores (18.75%) year-on-year. NICL had Profit after Tax of Rs. 967.64 crores in 2014-15. It increased from Rs. 823.29 crores in 2013-14, showing an absolute growth of Rs. 144.35 crores (17.53%) year-on-year.

Oriental Insurance Co. Ltd. (OICL) had Net Profit before Tax of Rs. 617.33 crores in 2014-15. It decreased from Rs. 660.73 crores in 2013-14, showing an absolute decline of Rs. -43.4 crores (-6.57%) year-on-year. OICL had Profit after Tax of Rs. 392.09 crores in 2014-15. It decreased from Rs. 460.29 crores in 2013-14, showing an absolute decline of Rs. -68.2 crores (-14.82%) year-on-year.

United India Insurance Co. Ltd. (UIICL) had Net Profit before Tax of Rs. 319.24 crores in 2014-15. It decreased from Rs. 633.06 crores in 2013-14, showing an absolute decline of Rs. -313.82 crores (-49.57%) year-on-year. UIICL had Profit after Tax of Rs. 300.57 crores in 2014-15. It decreased from Rs. 527.6 crores in 2013-14, showing an absolute decline of Rs. -227.03 crores (-43.03%) year-on-year.

Note: 1. Data are based on information provided by the Public Sector Undertakings (New India Assurance Company Limited, National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited) to the Insurance Division (DFS); 2. Data pertains to the business done by the companies in India only; 3. Data available quarterly with the figures given upto the quarter end (cumulative).

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Source: Ministry of Finance, Department of Financial Services
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