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5 largest Indian insurers' fiscal Q4 profit rises on higher premiums, fee income

Combined net income at India's five biggest insurers roseyear over year in the fiscal fourth quarter ended March 31, as a jump in netpremiums earned and fee income more than offset a decline in net ordinaryinvestment income and higher expenses.

Net income at the companies — ,ICICI Prudential Life InsuranceCo. Ltd., SBI LifeInsurance Co. Ltd., General Insurance Corp. of India and — rose to44.60 billion rupees from 35.90 billion rupees. Except for NewIndia Assurance, net premium earned and fee income grew at all the insurers in the2015-2016 fiscal year.

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As of July 20, US$1was equivalent to 67.16 Indian rupees.

 

 

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