Aditya Birla Insurance Brokers posts 40 per cent business growth

MUMBAI: Despite declining growth in the general insurance sector in the current fiscal, Aditya Birla Insurance Brokers (ABIB) has posted a growth of around 40 per cent, and hopes to sustain the momentum, a top official said.

"We have seen a growth of around 40 per cent as of now this fiscal. Both our personal and corporate businesses have shown sound performance during this period and we hope to sustain this momentum," CEO and Principal Officer of Aditya Birla Insurance Brokers Sandeep Dadia told PTI here.

Dadia said the share of the company has grown in the intermediary space during this period.

The company, which acts as an intermediary to sell general insurance products to both corporate and retail customers, has reported a revenue of around Rs 67.2 crore by the end of December quarter and around Rs 75 crore by the end of January 2014.

Dadia said while the retail and the corporate segments contribute around 45 per cent of its business each, the rest 10 per cent comes from the re-insurance.

He said the company will focus on retail lines of businesses along with specific segments of corporates in the next fiscal. "We hope to see 30 per cent growth in topline in the next fiscal," Dadia said.