Multiple choice

Once the state-owned State Bank of India (SBI) enters the general Insurance business following its recent tie-up with Insurance Australia Group Ltd (IAG), the country's premier non-life insurer New India Assurance will start losing ______ premium income annually.

  1. Rs 200 crore

  2. Rs. 300 crore

  3. Rs. 400 crore

  4. Rs. 500 crore

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market reports at the time estimated that New India Assurance would lose approximately Rs 200 crore in annual premium income due to the new competition.