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IndiaFirst Life to enter health, micro insurance in FY14

The company has shown significant growth of business on critical parameters, with its new business premium increasing by 34%

May 21, 2013 2:59 IST | India Infoline News Service
IndiaFirst Life Insurance on Monday said that it is foraying into health insurance and micro insurance from the current fiscal and the company will achieve break-even sooner than expected.

The company, floated by Andhra Bank and Bank of Baroda, has shown significant growth of business on critical parameters, with its new business premium increasing by 34%, from Rs. 9.8 billion to Rs. 13.16 billion.

IndiaFirst started its operations with the bancassurance model but is steadily and surely developing multi channels and corporate business which are tough to build but provide a firm competitive advantage in the long run.

The company is present in all the four key segments of business, health-protection-savings-investments. It has consolidated its bancassurance business while simultaneously working on multi channels.

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