Tata AIG income up 77%

Tata AIG has posted a 77% increase in its total premium income at Rs 880 crore for FY06 as against Rs 497 crore in FY05 while its first year premium increased 48% to Rs 432 crore.

"We continue to focus on creating a world-class life insurance entity that anticipates the needs of both customers and stakeholders and provides innovative solutions to address their needs," Farrokh Kavarana, chairman of Tata AIG Life, said.

The company issued an additional 3,17,430 individual life business policies from April 2005 to March 2006, an increase of 34.4% over FY05, he added.

The company has covered 7,16,016 lives last fiscal through its group life insurance, pensions, gratuity and superannuation product.