Aiming to clock around 15 per cent growth in premium income in the current fiscal, Tata AIG General Insurance on Sunday said it will take a slew of measures including expanding the product basket in the existing segments, starting a new vertical and opening new branches.
"Last fiscal, our premium income grew by around nine per cent. It may be around 15 per cent this fiscal," Tata AIG General Insurance's CEO and Managing Director Gaurav D Garg told PTI here.
Tata AIG General Insurance had generated Rs 882.93 crore as premium income where motor insurance contributed 25 per cent followed by personal accident, health and travel segments putting 20 per cent together. The commercial segment shared the remaining 55 per cent.
Garg expects the industry growth would be below 10 per cent this fiscal as compared to around nine per cent in 2008-09.
During the current fiscal, Tata AIG General Insurance would focus on segments like motor, small business, health, rural and retail segments for growth.
"These segments have high-growth potentials and we want to focus on these areas to bolster growth," Garg said, adding that the company would either expand the existing product baskets or launch new products in these areas during the current fiscal.
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