Mumbai, July 01: Tata AIG General Insurance Company Ltd has posted more than 200 per cent rise in premium income at Rs 240.8 crore in the financial year ended March 31, 2003, compared to Rs 81.6 crore recorded during the previous fiscal. The rise is due to "robust topline growth through a combination of consumer and corporate insurance sales" during the year under review, Tata AIG said in a release here today.
The company posted a 100 per cent increase in the number of policies at 1.88 lakh, of which 8,114 policies were issued to the corporate sector, the release said.
Tata AIG settled over 23,000 claims, totalling Rs 59 crore during the year under review, it added.
Commenting on the results, Tata AIG chairman Farrokh K Kavarana said the company had achieved "great performance" in the second year of operations through value-proposition and "excellent service". Bureau Report