IDBI Federal Life Insurance's FY18 net profit soars by 94% to Rs 1 billion

The company now commands over Rs 7.5 billion in assets under management as against Rs 60.9 billion in FY17

IDBI Federal Life Insurance company has posted a net profit of Rs 1 billion for the financial year (FY) ending March 31, 2018, as against Rs 520 million earned during FY17. The company’s net profit has grown by 94 per cent between FY17 and FY18.

Total premium revenue earned by the company in FY18 stands at Rs 17.83 billion, around 14 per cent higher than the premium revenues amounting to Rs 15.65 billion during FY17.

Individual business premium revenue has grown by 15 per cent in FY18 to Rs 7.32 billion, while group premium revenues, including renewals, have fallen by