IndiaFirst aims Rs 10,000 crore AUM in FY17

In FY16, the company's overall premium collection stood at Rs 1,967 crore

IndiaFirst Life Insurance, the joint venture of Bank of Baroda, Andhra Bank and Legal and General, aims to achieve assets under management (AUM) target of Rs 10,000 crore in the current financial year.

In 2015-16, the company's overall premium collection stood at Rs 1,967 crore.The profits for IndiaFirst Life grew 12 per cent at Rs 7.72 crore for the 2015-16 as compared with Rs 6.89 crore in the previous financial year.

This is the second consecutive year of profits post its break-even, according to IndiaFirst Managing Director and Chief Executive R M Vishakha.

The company's AUM was Rs 9,061 crore during the last financial year and it aims to touch Rs 10,000 crore mark by March 2017.