It’s eight years since India First Life Insurance Company opened for business and its MD & CEO, R.M. Vishakha, uses the occasion to reiterate the philosophy of ‘securing lives and creating value’ as its core mission.
Starting out as the 23rd entrant in a crowded industry, India First Life Insurance Co has grown to be the 13th ranked player and aims to break into the top ten soon. It has sold policies to 10 million customers in eight years and has about 4.5 million of them on its books now.
It made its first profits at the end of the fifth year and in the last fiscal reported a profit of Rs 35 crore on a gross written premium of Rs 2,265 crore (with total new business annual premium equivalent at Rs 528 crore). Individual premiums grew at 82 per cent last year and this fiscal the numbers continue to grow at an impressive 108 per cent.
