ING Vysya Life Insurance Company Ltd, a part of Dutch financial giant ING Group, on Tuesday announced that it reported net loss of Rs 190 crore for the year ended March 2009. The losses were around the same level in the previous year too.
“The company had to bear losses as it continued to make investments in the insurance business and it expects to breakeven in the 10th year of its operations and make operating profits in 2011-12. Once our renewal premium income grows larger than the present levels, we will start making profits", Kshitij Jain, Managing Director & CEO, ING Life said.
