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SBI General expects to breakeven by FY15

The general insurer reported a 208% growth in its gross written premium to Rs. 7.71 billion in FY13

May 07, 2013 4:02 IST | India Infoline News Service
Private sector general insurer SBI General Insurance on Monday said it expects to breakeven by FY15 on the back of better underwriting practices and consumer focus.

The general insurer reported a 208% growth in its gross written premium (GWP) to Rs. 7.71 billion last fiscal (2012-13), the company said.

During this period, its net losses were at Rs. 1.45 billion, while its investment income stood at around Rs. 710 million, underwriting loss was around Rs. 2.15 billion during this period.

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