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Bharti AXA General Insurance on Wednesday said it is looking at 60 per cent growth this year by providing innovative solutions and focusing on motor and health verticals.
“We have reached Rs 500 crore in total premium collection in our second full year of operations and aim a growth of 60 per cent in this calendar year,” said Mr Amarnath Ananthanarayanan, CEO, Bharti AXA General Insurance.
The private insurer, which is looking to break even by 2012, has already infused over Rs 460 crore and is planning to put in another Rs 100 crore by this December, he added. Motor insurance vertical contributed 70 per cent to the overall business, while health and PA (personal accident) 17 per cent and commercial lines 12 per cent.
Mr Ananthanarayanan said the company has 10 new products lined up in the health vertical, while in the motor segment it is planning 10 add-ons depending on the regulatory approvals. “We will focus on growing retail health with 10 new add- ons to be introduced in 2011 (subject to regulatory approval) and 20 new micro finance institution (MFI) tie-ups for customised solutions,” he added.
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