Private sector non-life insurer ICICI Lombard is looking at 20 per cent growth in the long term two-wheeler (LTTW) segment during the current fiscal, a senior company official said today.
Overall, the company is looking at a growth of 12-13 per cent in 2016-17.
ICICI Lombard collected a revenue of Rs 166 crore in terms of gross written premium from LTTW insurance so far, which it launched in April last year. It has issued 5,00,000 LTTW policies during past 14 months.
"At ICICI Lombard, we are looking at a growth of 20 per cent in LTTW segment in terms of premium and policies both," ICICI Lombard General Insurance Chief, Underwriting and Claims, Sanjay Datta told reporters here.
"We are looking at achievement of 12-13 per cent overall growth in the current fiscal," he said, adding "the growth is likely to come from areas like weather, two-wheeler, property, health and marine."
Talking about the company's performance in the year gone by, he said, "Our combined ratio in 2015-16 was at more than 105 per cent which was mostly due to Chennai floods and adverse weather in the country during the year.
