SBI Life To Increase Insurance Premiums
Considering a 50% increase in its Insurance Premium income this fiscal
SBI Life Insurance (SBI Life) is considering a 50% increase in its Insurance Premium income this fiscal – reported in Business Standard.
U S Roy, managing director and CEO, said: “During last year, though the target was INR70 billion, SBI Life was able to achieve only about INR53.8 billion. This year plans were on to increase it by 53 to 55%.”
He further expressed that steps had also been taken to hike the total premium income, announcing a venture with the Muthoot Group. The total premium income collection last year was INR70 billion and this year it was likely to cross INR100 to INR110 billion mark.
In the state of Kerala, India, SBI Life did over INR3 billion insurance premium collection last year, and this year the aim is to double it. SBI Life's products would be distributed and serviced through all the branches of Muthoot Finance.
Latest News
Related News
General Insurance> Commercial lines
Related Dates
2009> July
Related Industries
Financial Services> Insurance> Non-Life Insurance> Commercial Insurance
Related Insight
Suppliers Directory
Life Insurance & Pensions
Intermediaries Brokerage Underwriting London Lloyds
Reinsurance
Technology Technology in Insurance Outsourcing
Regulatory & Risk
Commercial Lines Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125

Comments may be moderated for spam, obscenities or defamation.