Bharti AXA Life registers 52 per cent growth

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Mumbai: The business of Bharti AXA Life Insurance Company Ltd has increased by 52 per cent in the first half of the current fiscal.

The company, on Thursday, said there is a proposal to expand its branch network to 236 by the end of this year. There are 216 branches till date.

During the half of the current fiscal, the company has procured fresh business of Rs 398 crore. Company sources said the total premium rose over 34 per cent to Rs 851 crore in the first six months of the current fiscal from Rs 636 crore.

Company sources said the main focus is on traditional products, cost management, customer centricity and digitization. This will help us achieve qualitatively, the sources said.

Vikas Seth, Managing Director and Chief Executive Officer said in the statement that 30 new branches during the April-September have taken the branch count to 216.

He said for twenty more new branches the company has received approval from IRDAI. The growth has persistently improved to 67.5 per cent as on September 30; he said and added that the focus is on quality business.

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