Tata AIA Life: 44% increase of IWNBP in Q3 FY22

Tata AIA Life Insurance Co. Ltd. (Tata AIA Life), one of India’s quickest developing life guarantors, has announced an Individual Weighted New Business Premium (IWNBP) of Rs 1,193-Crore for the second from last quarter of the monetary year 2021-22, an increment of 44% contrasted with Rs 831-Crore accumulated for the second from last quarter of 2020-21. For the nine-month period ending December 2021, the Company registered a growth of 32% with an IWNBP income of Rs 2,786-Crore, as compared to Rs 2,110-Crore for the same period of the previous financial year.

The Total Premium Income for FY22 Q3 increased to Rs 3,652-Crore as compared to Rs 2,766-Crore, a growth of 32%. Complete premium pay expanded to Rs 8,907-Crore for the nine-month time frame finishing December 2021, as against Rs 7,035-Crore in a similar period in FY21, a development of 27%. As of 31 December 2021, the Total Assets Under Management (AUM) grew by 29% compared to 31st December 2020, increasing to Rs 55,492-Crore from Rs 43,033-Crore. As of 31st March 2021, 99.93% of Tata AIA Life’s AUM have been rated 4-star or 5-star on a 5-year rating.
Tata AIA Life recently added 100 new digitally-enabled branches in 18 Indian states. The company has also been taking other initiatives on the digital front including strengthening its online presence.

By khushbu

Leave a Reply