{"id":39107,"date":"2022-04-29T15:41:00","date_gmt":"2022-04-29T10:11:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-indiafirst-premium\/"},"modified":"2022-04-29T16:01:34","modified_gmt":"2022-04-29T10:31:34","slug":"biz-indiafirst-premium","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-indiafirst-premium\/","title":{"rendered":"IndiaFirst Life gross premium rises 28% to Rs 5,187cr in FY22"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3615967020\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Apr 29 (PTI) IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) on Friday said it registered a 28 per cent jump in its gross premium income to Rs 5,187 crore in the fiscal year ended in March 2022.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3129605330\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> &#8220;Our gross premium has jumped 28 per cent from FY21 and crossed Rs 5,187 crore in FY22,&#8221; IndiaFirst Life said in a release.<\/p>\n<p> The insurer said that it continued with its robust business expansion journey clocking a year-on-year growth rate of 50 per cent in terms of individual new business annual premium equivalent (NB-APE).<\/p>\n<p> At Rs 1,345 crore of individual NB-APE, the company is the fastest-growing private life insurer in the country, IndiaFirst Life claimed.<\/p><div class=\"trade-content_5\" id=\"trade-3577016695\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The renewal premium income crossed Rs 2,400 crore for the first time ever since inception at Rs 2,420 crore, it said.<\/p>\n<p> Among others, the life insurance company witnessed a 55 per cent jump in its individual new business premium at Rs 1,428.7 crore in 2021-22, from Rs 924 crore in 2020-21. The company&#8217;s 13th-month persistency ratio stood at 82 per cent at end of March 2022 as against 78.7 per cent by year ago same period.<\/p>\n<p> The group credit life new business premium rose by 112 per cent to Rs 503.6 crore from Rs 238 crore.<\/p>\n<p> The assets under management (AUM) rose by 11 per cent during the year to Rs 18,932 crore at end of March 2022 from Rs 17,109 crore, it added.<\/p>\n<p> &#8220;Our robust business performance has ensured we continue to grow faster than the industry for the seventh consecutive year. In FY22, we registered a 50 per cent rise in individual NB-APE but what&#8217;s more heartening is the fact that we have a 7 years CAGR of 36 per cent,&#8221; Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company said.<\/p>\n<p> IndiaFirst Life&#8217;s current shareholders include Bank of Baroda, Union Bank of India, and Carmel Point Investments India Private Ltd (Warburg Pincus LLC group), holding 65 per cent, 9 per cent, and 26 per cent stakes respectively in the company. PTI KPM  MR<\/p><div class=\"trade-content-10\" id=\"trade-3356503933\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-647912321\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 29 (PTI) IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) on Friday said it registered a 28 per cent jump in its gross premium income to Rs 5,187 crore in the fiscal year ended in March 2022. &#8220;Our gross premium has jumped 28 per cent from FY21 and crossed Rs 5,187 crore in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-39107","post","type-post","status-publish","format-standard","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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