Solvency ratio, which is a measure of a company’s cash flow that is sufficient to meet its short-term and long-term liabilities, was 2.12 in Q3 of FY19 as against 2.10 in Q2 of FY19.
The combined ratio of the company saw an improvement to 95.9 per cent in the third quarter of FY19 from 96 per cent in third quarter of FY18.
Combined ratio measures the money flowing out of an insurance company in the form of dividends expenses, and losses.
The company has also re-appointed Bhargav Dasgupta as the MD and CEO of the company for a period of five years with effect from May, 2019.
Also, Ashvin Parekh has been reappointed as the as non-executive, independent director of the company for a second five-year term, effective April 18, subject to approval of Insurance Regulatory and Development Authority of India and members of the Company.
The non-life insurer's shares ended 1.44 per cent lower at Rs 861.30 on the BSE on Friday.