IDBI Fortis to infuse Rs 250 cr for expansion

IDBI Fortis Life Insurance has announced a capital infusion of Rs 250 crore from is shareholders to boost its business expansion plans.

The company is targeting a network expansion drive to set up 100 branches across the country. Besides, IDBI Fortis also sells its products through more than 1,100 branches of its shareholder banks, IDBI and Federal Bank.

It launched operations in March last year with an initial capital of Rs 200 crore.