The current bearish market has brought down the total asset under management for Canara HSBC OBC Life Insurance Co Ltd by about Rs. 500 crore from that on March 31, 2015.
Gaurav Seth, Chief Financial Officer of the private life insurer, said here on Thursday that the overall AUM of the company (including shareholders’ fund) was Rs. 9,300 crore as on January 31 this year down from Rs. 9,800 crore on March 31 last year.
A large portion of the company’s investments was in equities, which has made the difference. Of the total AUM about Rs. 6,700 crore was in equity linked.
“In the 10 months this financial year we have collected new business premium worth Rs. 527 crore, showing a 60 per cent growth over the comparable period last fiscal,” Seth said.
There was hardly any default in terms of premium renewals at Rs. 893 crore during the first 10 months of this fiscal.
