New Delhi, June 03: Royal Sundaram Alliance Insurance on Monday said it has targeted Rs 300 crore in premium income this fiscal after posting an impressive 159 per cent growth at Rs 184 crore last fiscal. "Given the huge potential offered by the growing Indian market, we are on track to achieve our targets both in premium income and profitability. We aim at premium income in excess of Rs 300 crore in 2003-04," Royal Sundaram's managing director Micky Brigg said in a statement.

He said last fiscal's performance of 159 per cent growth in premium income at Rs 184 crore compared to Rs 71 crore in 2001-02, has encouraged the company in achieving the target.
The company's personal insurance premium increased by three-fold to Rs 98.80 crore last fiscal from Rs 30 crore in 2001-02, while that for commercial portfolio was up by 100 per cent at 85.60 crore.
Royal Sundaram has focused on bancassurance through its tie ups with American Express, ABN AMRO Bank, Citibank, Standard Chartered Bank and SBI-GE while leveraging the 120 branches of Sundaram Finance. Bureau Report