IndiaFirst Life Insurance FY17 profit at Rs 35 cr
The company witnessed a new retail premium collection growth of 82 per cent.
By Shilpy Sinha, ET Bureau | Updated:
IndiaFirst Life Insurance reported profit of Rs 35 crore for the financial year 2016-17.
The company was launched in 2010-11. It is promoted by Bank of Baroda, Andhra Bank and Legal & General.
The company witnessed a new retail premium collection growth of 82 per cent to Rs 403 crore by the end of FY 2016-17, as against Rs 221 crores in FY 2015-16.
“We are delighted to have an individual APE growth rate of 82 per cent,” said RM Vishakha, MD & CEO, IndiaFirst Life Insurance.
The 13th month persistency of the company surged up to 74 per cent in FY 2016-17 viz-a-viz 64 per cent, in the previous FY 2015-16.
The company was launched in 2010-11. It is promoted by Bank of Baroda, Andhra Bank and Legal & General.
The company witnessed a new retail premium collection growth of 82 per cent to Rs 403 crore by the end of FY 2016-17, as against Rs 221 crores in FY 2015-16.
“We are delighted to have an individual APE growth rate of 82 per cent,” said RM Vishakha, MD & CEO, IndiaFirst Life Insurance.
The 13th month persistency of the company surged up to 74 per cent in FY 2016-17 viz-a-viz 64 per cent, in the previous FY 2015-16.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
