Tata AIG to double premia income in FY08

Tata AIG Life Insurance Company is aiming at doubling premium income by the end of the current fiscal.

The company, with a current capital base of Rs 697 crore and managing assets worth Rs 4,000 crore, had reported a premium income of Rs 1,367 crore in the last fiscal.

Trevor Bull, managing director, Tata AIG Life Insurance Company, said: "Our premium income has grown around 100%  during the last seven months, which is considerably higher when compared with the corresponding period of the last fiscal when our growth was only around 25%. So, in terms of growth, we hope to maintain the momentum till the end of this fiscal."

Bull said the company was not under any pressure to raise capital through an IPO. "Though we are yet to break even, there is absolutely no pressure on us. We are not in a hurry to meet the target," he said.