'Crop, motor, health and commercial to equally contribute to portfolio by FY26'
Financial Express Kolkata|December 25, 2024
Universal Sompo General Insurance, known for its focus on motor and crop insurance, is setting its sights on expanding its health and commercial lines portfolio. In an interaction with Narayanan V, managing director and CEO Sharad Mathur shares the strategic rationale behind this diversification. Excerpts: Your gross direct premium income (GDPI) till November was ₹3,622 crore. What is your projection for FY25 based on the current growth rate?
Sharad Mathur

Your gross direct premium income (GDPI) till November was ₹3,622 crore. What is your projection for FY25 based on the current growth rate?

Last year, we closed with ₹4,622 crore GDPI. For FY25, we expect a GDPI base of ₹5,060 crore. Motor insurance will contribute around 46%, crop insurance 25% and health 17%. Commercial lines - comprising fire, marine, and miscellaneous insurance - will have a 12% contribution.

Aren't you highly concentrated on a single segment - motor insurance?

Initially, Universal Sompo focused heavily on crop insurance, which at one point accounted for 70% of our total premium portfolio. About four-and-a-half years ago, we decided to diversify into other segments, including motor, health and commercial lines.

この記事は Financial Express Kolkata の December 25, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Financial Express Kolkata の December 25, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

FINANCIAL EXPRESS KOLKATAのその他の記事すべて表示
Financial Express Kolkata

Quick, quicker, quickest...

DELIVERIES AT ONE'S DOORSTEP AT LIGHTNING SPEED IS ALL-PERVASIVE

time-read
3 分  |
December 26, 2024
Financial Express Kolkata

At the G, India up against Head-strong Australia

● In-form batter declared fit for Boxing Day Test

time-read
2 分  |
December 26, 2024
Financial Express Kolkata

Prosperity through cooperation

IN JUNE, the United National General Assembly (UNGA) adopted a resolution proclaiming 2025 as the International Year of Cooperatives with 'Cooperatives Build a Better World' as the theme.

time-read
3 分  |
December 26, 2024
Financial Express Kolkata

Office Leasing in Top Six Cities Hits Record: Report

WITH RISING DEMAND of premium workspaces, real estate consultant Anarock has said that realty firms are currently developing around 250 lakh square feet of office space across major cities for catering to the requirements of domestic and foreign companies.

time-read
1 min  |
December 26, 2024
Financial Express Kolkata

The Angry Young Man

LATER, THE BUREAU of Indian Standards got into examining the matter.

time-read
1 min  |
December 26, 2024
Financial Express Kolkata

Investors Get Good Exits in IPO Frenzy

A whopping ₹1.6 lakh crore has been mopped up in the primary market in 2024 by 90 firms, the highest so far in a year, topping the ₹1.19 lakh crore raised through IPOs in 2021 by 63 companies.

time-read
1 min  |
December 26, 2024
Financial Express Kolkata

Honda-Nissan deal may hold key to fight against BYD

HONDA MOTOR ABSORBING Nissan Motor could give the two struggling Japanese brands the scale they need to take on China's BYD, sales figures released on Wednesday show.

time-read
1 min  |
December 26, 2024
Financial Express Kolkata

Russia Launches 'Inhuman' Christmas Day Attacks

RUSSIA ATTACKED UKRAINE'S energy system and some cities with cruise and ballistic missiles plus drones on Wednesday in an \"inhuman\" Christmas Day assault, Ukraine's President Volodymyr Zelenskiy said.

time-read
1 min  |
December 26, 2024
Financial Express Kolkata

China Avoids Rate Cut to Brace for Future Pressure

CHINA REFRAINED FROM cutting the interest rate and drained the most cash since 2014 with a one-year policy tool, keeping its powder dry ahead of possible escalation in trade tensions with the US next year.

time-read
1 min  |
December 26, 2024
Financial Express Kolkata

Azerbaijan Airlines plane crashes in Kazakhstan, many feared dead

AN EMBRAER PASSENGER jet flying from Azerbaijan to Russia crashed near the city of Aktau in Kazakhstan on Wednesday with 62 passengers and five crew on board, Kazakh authorities announced, saying 32 survivors had been rescued.

time-read
1 min  |
December 26, 2024