Bharti Enterprises - Latest News Update, Information, Photos & Videos on Bharti Enterprises at Lokmat Times

Its annualized new business premium rose 31 per cent to Rs 640 crore in the financial year ended March 31, 2019, from Rs 489 crore in 2017-18.The company registered a 22 per cent growth in its renewal premium to Rs 1,164 crore in FY 2018-19, as compared to Rs 954 crore in the previous fiscal.Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and French insurance company AXA, said its total premium grew 23 per cent to Rs 2,076 crore in the fiscal year ended March 2019 from Rs 1,684 crore in the previous fiscal."The overall growth was driven by both higher new business as well as healthy renewal collections in the last fiscal," said Vikas Seth, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance.Asset under management of the company witnessed an increase of 27 per cent from Rs 4,496 crore in 2017-18 to Rs 5,699 crore as on March 31, 2019.The company set up 50 new branches during the year, taking its distribution network to 236 branches across the country .Bharti AXA Life Insurance took its net advisor force by 10,750 to 39,400 agents in the financial year ended March 31, 2019, higher by 38 per cent on a year on year basis.Seth said: "As part of our aggressive expansion drive to strengthen operation and enhance distribution footprint in the country, we increased our advisor base and branch count in the last financial year with a view to creating a large pool of productive agents and reaching out to every nook and corner of the country."He said the company has a big expansion plans in the current financial year in terms of recruitment of fresh advisors and setting up of more branches for new customer and business acquisition. It will further strengthen its agency model for selling various insurance products and servicing customers efficiently."Apart from focussing on quality business and sustainable growth with an emphasis on protection and saving segments, we will continue to strengthen digital and data analytics deployments for providing the best value proposition to our customers and efficiency in our operations," he added.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

Bharti EnterprisesFOLLOW

Bharti enterprises, Latest News

Business :Bharti AXA general premium income surges 46% in H1 FY20

Leading non-life insurer Bharti AXA General Insurance has recorded a whopping 46 per cent growth in its gross written premium at Rs 1,586 crore in the first half of financial year 2019-20 against Rs 1,087 crore in the corresponding fiscal period a ye ...

Business :Rakesh Mittal lays out telcos' pains, says market still sustainable

Sharing the dais with Communications Minister Ravi Shankar Prasad, Bharti Enterprises Vice-Chairman Rakesh Bharti Mittal on Monday outlined the issues plaguing the Telecom sector and said high capital expenditure and right of way (RoW) issues create ...

Business :Bharti AXA General premium income surges 29% to Rs 2,285 cr in FY19

Bharti AXA General Insurance on Tuesday said the company registered an increase of 29 per cent in its Gross Written Premium (GWP) to Rs 2,285 crore in the financial year 2018-19 from Rs 1,772 crore in 2017-18. ...

Business :Bharti AXA Life new business premium rises 25% in FY19

Private insurer Bharti AXA Life Insurance on Monday said its new business premium increased 25 per cent growth at Rs 911 crore in the financial year 2018-19 against Rs 731 crore in the previous fiscal. ...