Private insurer SBI General Insurance registered a
significant growth of 115% in gross premium collection at Rs 270.89 crore in
the first quarter of the fiscal year-2013. The company also registered 107%
growth in number of policies issued, from 115,676 in previous year to
239,082.
Sri Bhaskar. J. Sarma, MD and
CEO, SBI General Insurance said, “We have increased our presence to 40
locations and have been able to establish a strong foundation across Retail,
Corporate and SME business segments as well as across various product lines
like Motor, Fire, Engineering, Home Insurance and Personal Accident Insurance
during the past year. Our recently launched Health Insurance product is gaining traction with
customers.”
The insurer has also planned to
expand its network in tier-ll and tier-lll cities by adding another 25-30
branches.
SBI General
Insurance Company Limited is a new entrant in the sector. It got registered to
IRDA in year, 2009 becoming the 22nd general
insurer in the country. It’s a joint venture between State Bank of India (SBI)
and Insurance Australia Group, Australia.
Source : http://www.insuringindia.com/
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