Star Union Dai-ichi Life Insurance is targeting a new business premium collection of Rs 600-crore by end-fiscal, a top company official said.
"We are aiming at a fresh business premium of Rs 600-crore by March-end," Star Union Dai-ichi Chief Executive Officer and Managing Director Kamalji Sahay told reporters here today.
The company's new business premium collection till date was Rs 242-crore and by month-end it expects to garner Rs 300-crore, he said.
The company today launched six new products in group and individual insurance segments. In the individual segment, the company launched SUD Life Endowment Plan, SUD Life Pure Term Assurance Plan and SUD Life Premiere Protection Plan.
In group plans, three products--SUD Life Group Gratuity Plan, SUD Life Group Leave Encashment Plan, Reverse Mortgage Loan-Annuity Plan were launched.
Star Union Dai-ichi is a three-way joint venture between public sector lenders--Bank of India and Union Bank of India and Dai-ichi Mutual Life Insurance.