Welcome and thank you for visiting our website.
We pride ourselves in being the best in the industry in terms of the value we provide to our shareholders, customers and employees and being a good corporate citizen.
The year 2014 has been another very successful year for IGI Insurance. We have almost doubled our underwriting profit to Rs. 208 million from Rs. 105 million in 2013. As a result of successful transformation in operations and hefty returns on the investment we have made, our profit before tax has jumped from Rs. 555 million in 2013 to Rs. 942 million in 2014.
Despite the challenging economic environment and a strategic reduction in the health insurance portfolio, we have grown our premium base from Rs. 2.035 billion in 2013 to Rs.2.140 billion in 2014. The strategic shift in our product portfolio with a focus on property and casualty insurance has made our growth and profitability much more sustainable in the years to come.
We consider our employees to be our most valuable asset. Our HR philosophy promotes ownership and initiative and welcomes innovation across the board. We continue to strive for inducting, retaining and developing the best talent in the industry to deliver value to our shareholders.
Over the years, we have supported a diverse range of social sector organizations in the fields of education, health and environment. The year 2014 was no different. We contributed Rs. 20.6 million towards social welfare in 2014.
We are well equipped in terms of human resource, systems and technology to continue to deliver above average results to our shareholders.
We would like to thank our customers, business partners and employees for putting their faith in us and our shareholders for their continued patronage and confidence in IGI Insurance.
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