ICICI Lombard aims for Rs 6k cr premium income this fiscal

Leading private sector general insurance company ICICI Lombard is targeting a growth of 11 percent in premium income at Rs 6,000 crore this financial year, an official of the company said.

"Last year, we earned a premium income of Rs 5,400 crore.  This year, we are aiming at a premium income of Rs 6,000 crore," the company's chief of underwriting and claims Sanjay Datta said at the launch of a health insurance product in Kolkotta on Friday.

He said that motor insurance premium is the biggest business for the company (40 percent) followed by health (25 percent). Datta said the company is growing its retail business both in motor insurance and health sector.

"Earlier, when it started, we were focussing more on the corporate businesses," he told mediapersons. Asked whether the company would go for an IPO as it satisfies all the criteria laid down by IRDA, he said it was a decision to be taken by its shareholders.