New Delhi, June 10: Aviva Life Insurance targets to treble its business to over Rs 70 crore and hire 2,000 more people this fiscal while targeting to be among the top six life insurers within a few years. The 74:26 joint venture between Dabur and Aviva Plc intends to foray into pension sector in a big way and aims to break-even within 6-7 years, said its CEO Stuart Purdy.
Aviva Life has sold 22,000 policies for a premium income of Rsc27.43 crore with a total sum assured of Rs 385 crore.
"Our first year of operation was pretty encouraging. We expect to more than double or treble the premium income this fiscal. We want to see that Aviva is among the top six private players," he said.
The Aviva Life chief said it was potentially possible for the company to break-even in five years but it aims to do it within 6-7 years as it was more focused on retail segment rather than going for single premium and group schemes. Bureau Report