Ageas Federal Life earns Rs 1,959 cr premium in FY21
By IANS |
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Growth chart. (File Photo: IANS). Image Source: IANS News
Chennai, April 29 : Private sector Ageas Federal Life Insurance closed last fiscal with an after tax profit of about Rs 119 crore and a total premium of Rs 1,959 crore.
According to the insurer, formerly IDBI Federal Life Insurance Company Ltd, despite the Covid-19 challenges, the total premium rose by six per cent to Rs 1,959 crore in 2020-21 from Rs 1,843 crore in 2019-20.
The growth was driven by a 24 per cent rise in individual new business premium to Rs 504 crore and four per cent rise in renewal premium to Rs 1,327 crore.
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