Chennai: SBI Life Insurance is planning to launch two products, one in the micro insurance sector and health insurance sector in the first half of this year, a top company official said.
Addressing a press meet here on 3 May, U.S. Roy, Managing Director and CEO, said the company was working on some model in the micro insurance sector.
“We are planning to introduce the products in the first half of this year so that we can capitalise on it in the next half,” he said.
The total premium increased by 172% at Rs2,928.49 crore in 2006-07 compared to Rs1,075.32 crore the previous year.
SBI Life has registerd 88% increase in net profit at Rs3.83 crore this year as against Rs2.02 crore last year.
Roy said the Assets under Management have more than doubled to Rs4,741 crore this year.