ING Life may take up to 2 years more to breakeven

ING Life Insurance, which is in its 10th year of operation, today said that it might take two more years to breakeven.

"We have not yet reached the breakeven point and may take another two years to do so," ING Life Chief Distribution Officer Rahul Agarwal said.

"There is no plan as of now and there is no guideline also," Agarwal, who was here to launch new unit linked product-ING said when asked whether the company is planning to come out with an initial public offer soon.

ING Life had earned Rs 268 crore from new business (weighted average) and total premium income was Rs 718 crore as on September 30, 2010, the company said.

 

The insurance firm had recently infused majority of the proposed Rs 237 crore as fresh capital.

Exide Industries holds 50 per cent in the life venture.