One of the finest Insurance companies new India Assurance Company reported that the company will maintain the rates for some time. The company had revised the rates in the last fiscal year, and will be maintaining the same rates for some more times.
Further it has been reported that there will be no revision in health insurance premium rates, they will remain same at the current rates. The New India Assurance reported a 29 per cent rise in its net profit at Rs. 1,089 crore in the last financial year. Chairman and managing director of the company stated that the company will maintain all its renewal rates this year. However in some accounts company faced the risk perception was higher and the loss ratios were not good which led to rise in the rates of accounts.
The company is also planning to focus more towards the retail segment. Company was having around Rs. 100 crore premium from Rashtriya Swasthya Bima Yojna (RSBY) in the last fiscal.