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International

Indian insurer's profit falls 56%

August 12, 2019 Reprints

India-based insurer New India Assurance Co. Ltd.'s net profit declined more than 56% year over year to 2.8 billion Indian rupees ($39 million) in the quarter ended June 30, driven by underwriting losses, Moneycontrol reported. Underwriting losses increased by nearly 54% to INR 11 billion. The insurer posted underwriting losses in all business segments including fire, marine, and crop.

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Indian insurer's profit falls 56%

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