Bhubaneswar: Exide Life Insurance company today announced a net profit (PBT) of INR 112 crore for the financial year 2016-17. The company recorded a growth of 36% in new business premium and 18% in total premium.
Key Financial Highlights:
• Profits : INR 112 Crores (PBT) are up by 27% over last year
• New Business Premium : INR 863 crores, a growth of 36% over last year
• Total Premium Income : INR 2,409 crores, a growth of 18% over last year
• Assets under Management: INR 11,015 crore, a growth of 16% over last year.
Commenting on the Company’s fiscal performance and the encouraging traction received in Odisha, Kshitij Jain, MD & CEO, Exide Life Insurance said, “We have successfully grown our business on back of continued commitment towards our customers. Our well diversified distribution network coupled with best-in-class protection, savings and investment plans, helped deliver this growth. We are pleased that this growth has been achieved with no increase in operating expenses. This is in line with the company’s focus on improving productivity and efficiency.
The company is now fifteen years old and continues its focus on providing long term protection, savings and investment solutions to its customers. Our brand message of Lamba saath, bharose ki baat (Long term relationships build trust) reflects this belief.”
We have seen popularity of our long term savings solutions that come with adequate protection. Our solutions like Exide Life Smart Term Return of Premium Plans and Exide Life Sanjeevani – Health Insurance for Heart and Cancer have seen good acceptance in the market.”