 |
Insurance
11-May-20
|
|
|
|
|
|
|
|
|
|
|
|
IDBI Federal Life reports Rs 148 crore profit for FY20
|
|
|
|
|
|
|
Private life insurer IDBI Federal Life Insurance on Monday reported a net profit of Rs 148 crore in 2019-20 against Rs 133 crore in 2018-19.
The company's total premium declined by 4.65% to Rs 1,843 crore in 2019-20 from Rs 1,933 crore in 2018-19.
"While FY20 has been a challenging year for the organisation, we have taken a number of steps to steady the course. We focused on growing our distribution footprint primarily through our proprietary channels, while continuing to strengthen bottom line parameters such as persistency, costs, surrenders, claims, PAT and solvency margin," the company's managing director and CEO Vighnesh Shahane, said in a release.
Renewal premium grew by 14% to Rs 1,282 crore as against Rs 1,126 crore in 2018-19.
Its solvency ratio stood at 298% compared with 334% in 2018-19. The 13th month persistency stood at 83% in FY20.
Shahane said, the company will continue to ramp up its distribution channels, while looking at further leveraging the relationship with our bancassurance partners.
|
|
|
|
Previous News |
Ageas Federal Life Insurance expects 35-40% premium growth in FY22
(
Insurance
-
25-Jul-21
16:40
)
|
|
|
Ageas Federal Life Insurance launches its new ‘iSecure' plan
(
Insurance
-
25-Apr-23
18:00
)
|
|
|
Ageas Federal Life sees 40% sales growth as ownership rights issues resolved
(
Insurance
-
10-Jun-22
05:42
)
|
|
|
IDBI Federal Life Insurance unveils its new ULIP, ‘Smart Growth Plan'
(
Insurance
-
24-Jan-19
09:58
)
|
|
|
Federal Bank to buy additional 4% stake in IDBI Federal Life insurance for Rs 80 crore
(
Insurance
-
25-Jun-20
13:57
)
|
|
|
Federal Bank signs agreement to acquire up to 4% stake in IDBI Federal Life Insurance Co.
(
Corporate News
-
06-Aug-20
10:31
)
|
|
|
IDBI Bank sells entire stake in Ageas Federal Life Insurance
(
Insurance
-
22-Sep-22
20:35
)
|
|
|
Aegis Federal Life Insurance launches its #FutureFearless campaign with Sachin Tendulkar
(
Insurance
-
22-Nov-22
17:03
)
|
|
|
Board of IDBI Bank approves divestment of stake held in IDBI Federal Life Insurance Compony
(
Corporate News
-
27-Jun-20
12:05
)
|
|
|
IDBI Bank to sell up to 27% stake in its JV arm IDBI Federal Life Insurance Company
(
Corporate News
-
06-Aug-20
10:38
)
|
|
|
Aegis Federal Life announces highest ever bonus total of Rs 134.44 crore for FY23-24
(
Insurance
-
25-Jun-24
10:24
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|