Iffco Tokio General Insurance (ITGI) has targeted a premium income of Rs 700 crore for the current year 2005-06. The company reported premium revenues of Rs 501 crore last year, reflecting a growth of 53.7 per cent over 2003-04. | |
| "We will focus on the retail segment since 50 per cent of our overall premium comes from this segment," said Ajit Narain, managing director and CEO, ITGI. |
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| Iffco Tokio had a market share of 2.88 per cent as on March 31, 2005. The company has reported 165 per cent growth in motor insurance as against last year. |
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| The company's portfolio includes fire (35.3 per cent), marine (6 per cent), motor (32 per cent), engineering (9.5 per cent) and other classes of business (17 per cent). |
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| ITGI has successfully paid claims worth Rs 209 crore to approximately 67,458 claimants, 53 per cent of which are motor insurance claims and approximately 26 per cent are mediclaims. |
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| Of the company's entire business, 7.5 per cent comes from the rural sector, as against a 5 per cent mandatory requirement. |
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