KOLKATA: Exide Life Insurance Company’s annual net profit more than doubled at Rs 61 crore even as gross written premium rose merely 3.3 per cent at Rs 3325.
The insurer’s claim settlement ratio improved to 98.54 per cent in FY20-21 against 98.15 per cent in the previous fiscal.
“Our efforts towards building a robust digital infrastructure during the last 3-4 years paid off during these challenging times,” Exide Life Insurance managing director Kshitij Jain was quoted as saying in a press statement.
Wholly-owned by
, the insurer declared Rs 376 crore bonus for policy holders for FY21 which was 16 per cent more than 16 per cent over the previous fiscal.
Its asset under management grew 16.4 per cent to Rs 18,381 crore over the same period with a comfortable 222 per cent solvency ratio.
