Tata AIA Life's AUM cross Rs 1 lakh crore mark

24 Apr 2024 , 10:56 AM

Tata AIA Life Insurance Company has exceeded ₹1 Lakh Crore in assets under management (AUM). In less than three years, the company’s AUM has doubled from ₹50,000 Crore (August 2021) to ₹1lakh Crore. According to a press release, this increase was driven by substantial growth in Individual New Business Premium (IWNBP) income and excellent investment performance.

Venky Iyer, CEO & Managing Director of Tata AIA, attributes the doubling of company’s Assets Under Management (AUM) in less than three years to the confidence its customers have in its innovative solutions, excellent service, the dedication of agents and partners, and the outstanding performance of investment team.

We remain committed to financially safeguarding our customers and helping them achieve their goals, ensuring they are prepared for every moment, said Venky.

Tata AIA earned an industry-leading Performance in Persistency (based on premium) by placing first in four cohorts (13th, 25th, 37th, and 61st month) in Q3, FY24. The company’s leadership in Persistency demonstrates the continuous trust that Tata AIA customers have in the brand, as they renew insurance policies year after year.

According to the press release, regular premium payment is critical to ensuring that clients remain protected and get benefits throughout the policy term.

On a trailing 12-month basis, the claims settlement ratio improved to 99.19% in December 2023, up 0.71%.

Tata AIA’s investment philosophy shows an unrelenting commitment to policyholders, with an emphasis on producing superior, consistent, and risk-adjusted long-term returns through a bottom-up stock selection process. Notably, 91% of Tata AIA’s rated assets under management (AUM) are rated 4 stars or 5 stars on a 5-year basis as of March 31, 2024, by Morningstar Ratings.

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