NICL underwritten premium up 50pc
LAHORE: National Insurance Company Limited (NICL) reported over Rs15.5 billion premium underwritten till end of November 2021, grew by around 50 percent from the year 2019, a statement said.
This is a first that a company has achieved a milestone of crossing Rs15 billion target before year-end and all-time highest investment profit of approx Rs4.5 billion in the general insurance industry in 2021.
By year end, NICL sees the additional business reaching close to Rs20 billion. “This is a big achievement for the current regime as the stigma associated with the company has now been completely shifted to commendation in 2021 with almost 50% growth (as compared to 2019) in underwritten premium,” NICL said in a statement.
The company termed it a ‘landmark achievement’ to be a part of ministry of Commerce’s Silk Route Reconnect Policy and partner with the venture to promote trade of Pakistan with neighbouring and other far countries. “It is a milestone in making Pakistan a transit and transshipment hub by trucking.”