ECGC presents Rs 100 cr dividend cheque to Kamal Nath

New Delhi, Aug 21 (UNI) Mr A V Muralidharan, Chairman and Managing Director of Export Credit Guarantee Corporation of India (ECGC), today presented a Rs 100 crore dividend cheque to Commerce and Industry Minister Kamal Nath.

Having earlier paid an interim dividend of Rs 25 crore, the Corporation has thus paid a total dividend of Rs 125 crore for 2006-07, the highest ever since its inception in 1957, an official statement said.

ECGC is the only insurance company in India operating exclusively in the export credit insurance sector under non-life category. In this golden jubilee year, the Corporation will be setting up an institute of international standard for credit insurance and credit risk management.

The Corporation earned a gross premium of Rs 617.66 crore in 2006-07 as compared to Rs 578.44 crore in the previous year, up by over 6 per cent. Its net profit after tax in 2006-07 was Rs 369.70 crore as against Rs 221.76 crore in the previous year. ECGC covered exports of Rs 51,733.77 crores and export finance of Rs 37,7107.03 crore in 2006-07.

UNI