Bharti AXA Life's premium grows 28% in Apr-Dec
Private sector Bharti AXA Life Insurance registered a 28 per cent growth in its total premium to Rs 1,359 crore during the nine months to December of the current fiscal, and will focus on tier 2 and 3 cities next year to expand business, a top official said.
The company's total premium stood at Rs 1,064 crore in the corresponding period of 2017-18.
The new business premium surged by 40 per cent to Rs 617 crore during April-December period of 2018-19, while renewal premium grew by 19 per cent to Rs 742 crore.
"We have outgrown the life insurance industry in the first nine months of this fiscal. We are confident of achieving a robust growth by the end of the current financial year," Bharti AXA Life Insurance MD and CEO Vikas Seth said.
The company expects to achieve a strong double-digit growth by this fiscal end.
The annualised new business premium grew 48 per cent to Rs 422 crore in the first nine months of 2018-19 as against Rs 286 crore in the same period last fiscal.
Bharti AXA ...