New India Assurance has reported a sharp increase in its profit after tax at Rs. 843.66 crore in the year ended March 31, 2013 against Rs. 179.31 crore in the previous year. The company’s business in India crossed the Rs. 10,000-crore mark to Rs. 10,038 crore, recording a growth of 18 per cent. Foreign operations generated a premium of Rs. 2,467 crore, up 17.6 per cent over the previous year.

The directors have recommended a dividend of 85 per cent on a paid-up capital of Rs. 200 crore. G. Srinivasan, Chairman cum Managing Director said in a statement that a business target of Rs. 15,000 crore had been fixed for the current financial year.

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