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Exide Life Insurance aims 10% growth in 2014-15

The company's solvency margin is healthy at 239% on 31st March 14, up 32% as compared to March 2013.

May 09, 2014 8:13 IST | India Infoline News Service
Exide Life Insurance on Thursday said it has targeted to achieve a growth of 10% in the current year on account of a strong re-branding exercise and also helped by a turnaround expected in the economy.
At present, Exide Life Insurance serves over 10 lakh customers in over 200 cities across India and manages over Rs. 7,000 crore in assets.
In 2013-14, Exide Life Insurance recorded doubling in profits to Rs 53 crore driven by growth in renewal premiums and improvements in efficiency and product mix. Despite challenging market conditions, total premium income has grown to Rs 1830 crore and assets under management grew 13% to Rs 7,490 crore. The company's solvency margin is healthy at 239% on 31st March 14, up 32% as compared to March 2013.


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