OIC may end Q1 with 10% growth

The state-run non-life insurer, Oriental Insurance Company (OIC), is likely to register an incremental growth of 10% on year-on-year basis during the first quarter which ended 30 June, 2009. Talking to reporters on the sidelines of Skoch summit on BFSI (banking, financial services and insurance) in Mumbai on Thursday, M Ramadoss, chairman and managing director, OIC, said that the claim ratio in motor insurance alone during the year 2008-09 was reported to be at 94% in his company, whereas the ratio including pool and third party claim crossed the mark of 115% during the period. Talking about the new product, ...

More...