Managing director Ian Watts added that the company clocked a first premium income of Rs 104 crore for the 12 months ended November 30, 2003.
In keeping with the growth in business and in-line with its plans, Tata AIG today hiked its share capital base to Rs 231 crore from Rs 185 crore earlier.
The increase in equity capital by Rs 46 crore was contributed by American International Group Inc (Rs 11.96 crore) and Tata Sons (Rs 34.04 crore) in proportion to their respective equity holding of 26:74.
