New rates were announced on 7.4.10 ,thes are increased rates and bring premium rates to more or less at par with /premium rates of other Insurance Companies.
Let us see comparision of old rates vs new rates for a family floater policy where the age of head of the family is 32.
You may be surprised to see increase of the order of 221% but I am not at all.
No Insurance Company can go on losing money for a long time as ultimately the shareholders want return on their investment.
As the companies have started getting ready for IPO as well as to release / figures in press( every 6 months) / website( every 3 months ) this was expected to happen.
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