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| SBI Life Insurance registers impressive performance | | | Early Times Reporter
Jammu | July 25
SBI Life Insurance Company, one of the fastest growing private sector life insurers reported an impressive performance for the first quarter of the current fiscal ending June, 2008. The total premium of t he company grew by 169 per cent to Rs.1387 crore. During this period the company made a new business of RS.972 crore registering an increase of 241 per cent.
Commenting on company’s performance U S Roy, MD SBI Life Insurance said ‘we have outpaced the industry growth while continuing to be the most capital efficient because of our unique multi distribution model and State Bank’s brand strength with its wide reach. He said the company remains committed to provide the benefits of life insurance to the socio-economic segments of the population that need it most’.
He said the SBI Life’s unit-linked product inflows, contributed almost 54% to its total premium income, ensuring a balanced mix of market linked and traditional products. While the assets under management have more than doubled to Rs. 11, 727 crore, the company now ranks second amongst private life insurance companies in terms of premium collection and has a market share of 13.84 per cent amongst private peers as per the latest IRDA reports, he added. |
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