Kochi: SBI Life Insurance is targeting a 55% increase in its insurance premium income this fiscal, a top official said on Thursday.
Last year, though the target was Rs7,000 crore, SBI Life was able to achieve only about Rs5,386 crore. This year, plans are to increase it by 53-55%, SBI Life Insurance CEO and managing director U S Roy told reporters here.
During the first quarter this fiscal year, SBI life insurance had been in the top slot till May and at least a 30% growth was on the cards, he said.
Steps had also been taken to increase the total premium income, he said announcing a tie-up with the Muthoot Group.