Tata AIG hopeful of 15-16% growth this year
Quotes

Tata AIG hopeful of 15-16% growth this year

Last Updated: Monday, November 18, 2013, 20:59
 
 Comment 0
 
Tata AIG hopeful of 15-16% growth this year
Mumbai: Tata AIG General Insurance is hopeful of posting a growth rate of 15-16 percent that should be better than industry average for this fiscal, a top company official said.

"Industry growth has come down to around 15 percent. Month-by-month trend is not encouraging... We have grown at 18 percent as of now....We will be closing the year by 15-16 percent if this trend continues, which should be better than the industry average," Tata AIG chief executive Kaushal K Mishra said in an interaction here.

Domestic slowdown has dragged down auto, infra and other key commercial lines of businesses for the general insurance industry, which has resulted in dip in industry growth. However, Mishra said some key focus areas will drive growth for the company.

"We are focusing on some areas which will drive growth for us, like expanding our geographical reach. We are planning to expand our branch strength to 100 early next fiscal from the current 78 offices. Also, we are focusing on our strength areas like marine cargo," Mishra said, adding health insurance will be another key focus area.

Talking about the growth in marine insurance in this fiscal given the momentum seen in exports, Mishra said the insurer expects this segment to pick up from next fiscal.

"Marine insurance is not likely to pick up this fiscal. But, we expect next fiscal will be good...," Mishra added.

Tata AIG General Insurance is a joint venture between Tata and the US-based insurer-AIG in which Tata holds the majority stake, and had a gross written premium collection of Rs 1,050 crore in the April-August period of this fiscal.



PTI

First Published: Monday, November 18, 2013, 20:59


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved