SBI General Insurance, a subsidiary of the country's largest lender SBI, expects to wipe out accumulated losses during the current fiscal and may go in for listing next year. "The company has already achieved break-even but some accumulated losses are still there, which should get wiped out during the current fiscal," SBI General Insurance Managing Director Pushan Mahapatra told PTI. After wiping out losses, the company would look at listing on bourses, he added. SBI General Insurance, a joint venture between State Bank of India (SBI) and Australian insurance major IAG, turned in its maiden profit for fiscal 2016-17, its seventh full year of operations. Also read SBI Life Insurance appoints Sanjeev Nautiyal as new MD & CEOThe company reported a net profit of Rs 153 crore as against a loss of Rs 120 crore in the previous year.

Source: dna April 08, 2018 09:11 UTC