New India Assurance Eyes 12% Growth Growth In FY05

New Delhi, Sept 28 | Updated: Sep 29 2004, 05:34am hrs
Countrys leading general insurer New India Assurance plans to open offices in New Zealand and Qatar to expand its operations and attain over Rs 5,470 crore in global business this fiscal.

We are planning new offices in New Zealand and Qatar. Our overseas business is expected to grow by 5% to Rs 920 crore while domestic premium is targeted to grow by 12% to Rs 4,550 crore this fiscal, NIA chairman Rajender Beri told PTI here.

With the international expansion to 28 countries, the companys gross global premium is expected to be Rs 5,470 crore this fiscal, compared to Rs 4,921 crore in 2003-04. Mr Beri was in town to present the highest ever dividend of Rs 45 crore to finance minister P Chida-mbaram.