Tata AIG records 77% increase in premium
The Financial Express — June 20, 2006

Private life insurance player Tata AIG Life Insurance has stated that it has posted a 77% increase in total premium income to Rs 880 crore for the financial year ending 2006, as compared to Rs 497 crore in the previous fiscal. It has recorded 48% rise in the first year premium (FYP) income to Rs 432 crore for year ended as against Rs 292 crore in previous year. The company has managed to cover over seven lakh lives by providing array of group life insurance products during the year, which was a rise of 43% over the last year Additionally, over three lakh individual life business policies were issued from April 2005 to March 2006, an increase of 34.4% over the last year.

The premium income of company generated by agency was up by 61% with persistency rate of 85% for the financial year ended 2006. The company's total premium income from alternate channels up 132 % while bancassurance showed a whooping growth by 179 %. In order to augment its business, Tata AIG Life plans to focus on its social responsibility position by launching additional rural and micro finance initiatives and increase its geographical reach to provide local options to more and more people across the country.