Royal Sundaram Alliance Insurance Company Limited has reported a 168 per cent growth in profit before tax for the year ended March 2007 at Rs.27.18 crore, up from Rs. 10.16 crore in the preceding year. This performance, based on a 30 per cent growth in revenues, results in a 16 per cent post-tax return on equity during 2006-07, says a release from the company. Royal...
Royal Sundaram Alliance Insurance Company Limited has reported 144 per cent growth in net profit to Rs 21 crore during its seventh year of operations ended March 31. The company earned premium income of Rs.600.58 crore, a growth of 30 per cent over the previous year. Personal insurance accounted for Rs 391 crore while commercial insurance contributed Rs 210 crore to premium...
A liberal market with tightly controlled prices that was the perception of the general insurance industry in the country, until December last year. Then came detariffing. It was expected to give much-needed help to the industry, provide pricing flexibility and offer respite to public-sector insurance companies, which have been reeling under heavy losses, particularly in areas like...
The Indian insurance industry has witnessed an important milestone with the advent of the free tariff regime with effect from January 1, 2007. With this, the market has moved from an environment of tightly controlled tariffs to risk based premiums. Removal of Tariff controls is a natural way for any market to grow and thus is a progressive step toward a free insurance market in the...
The Finance Minister was expected to announce some sweeping changes in taxation and tax structures. Sadly, Budget day was not the day for it. While he tweaked a little here and a little there on exemptions and deductions, no major changes were made to tax rates or tax slabs. However, he did promise that these changes would be announced soon. "A comprehensive review should await...
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