Tata AIG Makes Rs 51.79 Crore Profit In Fiscal Year 2010-11

Top Quote Tata AIG Life Insurance company has reported a net profit of Rs 51.79 crore for the current financial year 2010-11. That is not all. The premium collection of the company has also increased by 14 per cent. End Quote
  • (1888PressRelease) June 16, 2011 - Tata AIG Life Insurance Company Limited has announced a strong net profit of Rs 51.79 crore for the fiscal year 2010-11. The company has also recorded a 14 per cent growth in its total premium also.

    Suresh Mahalingam, MD & CEO, Tata AIG Life Insurance Company Ltd. said "Tata AIG Life looks back on a successful fiscal. Our cost optimization strategies and continued focus on persistency of business over the last four quarters resulted in this profitable growth. To support our future growth plans, we have infused fresh capital of Rs. 33 crores during the fiscal ending 31 March 2011."

    "The company's total Assets Under Management (AUM) have increased by 34 per cent to Rs 12,658 crore from Rs 9,456 crores in the last fiscal. The paid up capital stands at Rs 1,954 crore. A solvency margin of 216 per cent was a very positive indicator of the company's overall financial health." Suresh Mahalingam further added.

    Recently, Tata AIG bagged the Company of the Year Award 2011 for Health Insurance and Best Product Innovation Award 2011 in the general insurance category for the year 2010 - 2011 at the India Insurance Awards 2011 award function organized by the India Insurance Review and Celent in Mumbai.

    It has also launched two unit linked products -Tata AIG Life Insurance InvestAssure Gold Supreme and Tata AIG Life Insurance InvestAssure Maximizer.

    About Tata AIG Life Insurance Company

    Tata AIG Life Insurance Company is a joint venture between Tata Group and American International Group (AIG). It started its operations in India on 12 February, 2001 and is headquartered in Mumbai. The company has spread its wings in almost all the major, towns, cities and states of India. The company offers various types of insurance policies in India which include medical insurance, whole life insurance, wealth and retirement benefits, term insurance, online travel insurance, car insurance and so on.

    Tata AIG Insurance Products

    Life Assure Lifeline Plans
    Life Assure Growth Plans
    Life Assure 21 years Money Saver
    Life Assure Golden Years Plan
    Safety as well as returns
    Life Easy Retire
    Single premium payment
    Life InvestAssure Health
    Life Hospi CashBack
    Life InvestAssure Extra
    Life InvestAssure Gold
    Life LifePlus
    Life MahaLife Gold
    Life Health Protector
    Life Nirvana Plus
    Life InvestAssure II
    Life Assure Career Builder
    Life Assure Educare
    Life MahaLife Gold
    Life Assure Golden Years Plan
    Life Assure 21 years Money Saver
    Life InvestAssure II

    For more information visit at- http://www.rupeetalk.com/life-insurance

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