FRANCHISE TRADE NOW OPEN AN ACCOUNT GLOBE E-KYC
Insurance News
Prev Next
Canara HSBC OBC Life Insurance launches its new plan 'iSelect Term Plan'
28-Feb-2017 (09:31)
LIC's total premium income grows 12% in nine months of FY17
27-Feb-2017 (19:19)
SBI Life Insurance to actively consider launching IPO in next fiscal 2017-18
27-Feb-2017 (18:30)
HDFC Life Insurance ties-up with ET Money to launch data-led policy
27-Feb-2017 (17:57)
Oriental, National and United India Insurance likely to be merged to fetch better valuations
27-Feb-2017 (09:32)
IndiaFirst Life Insurance eyes to collect Rs 2000 crore premium by March end
25-Feb-2017 (09:34)

IndiaFirst Life Insurance is looking at achieving overall premium of Rs 2,000 crore by March-end from Rs 1,750 crore at present, a top company official said.

The company, promoted by Bank of Baroda, Andhra Bank and UK-based Legal & General, is targeting to cross the premium of Rs 350 crore in individual premium by the fiscal-end, from Rs 285 crore at present, the official added.

"We are looking at achieving overall premium of Rs 2,000 crore by March-end from Rs 1,750 crore at present," IndiaFirst Life Insurance managing director and chief executive, R M Vishakha told PTI.

"In the individual premium segment, which has grown by 90 per cent on y-o-y basis to Rs 285 crore as of now, we are looking at crossing Rs 350 crore by the fiscal-end," she said, adding, "Out of our individual premium segment, we have got 40 per cent of policies falling under Ulip category."

The company, which has over 50 lakh of policies under its fold, has been registering profit for the third year in a row. The company is selling its products through 70 per cent of branches of Bank of Baroda and 90 per cent branches of Andhra Bank. Still, the company was having 29 branches of its own.

"We have got 29 branches of our own. The only thing is that these branches are meant for administrative use of the company," she said.

On the company's plan to sell its products online, Vishakha said it would take off shortly. However, she did not give any timeframe for it.

The company has kept its group business flat consciously after having invested in it for first five years.

"In group, we have deliberately kept the growth flat. As in the first five years, we invested heavily in the building of our group business. Then we decided to stabilise it and grow our retail and protection businesses," she said.

In group, there are two kinds of businesses, fund management which includes gratuity and superannuation, while the other is corporate fund which is a pure life insurance product.

"One of our protection businesses under group business segment is doing very well these days. We have done around Rs 120 crore under protection business alone. In addition, we have done around Rs 890 crore in corporate funds," she said.
Airtel Payments Bank to sell Insurance, MF products
23-Feb-2017 (17:33)
Insurance regulator IRDAI to form actuary panels for life, general insurers
21-Feb-2017 (09:35)
HDFC Life-Max Life merger is a structural change: says Keki Mistry
20-Feb-2017 (16:29)
Banks look for insurance as cyber threats increase
20-Feb-2017 (10:24)
Insurance penetration in India likely to cross 4% this year: ASSOCHAM
16-Feb-2017 (09:36)
HDFC life Insurance unveils its new product 'Pragati'
15-Feb-2017 (16:43)
Life Insurance Corporation stake In Infosys raises to 7.02%
13-Feb-2017 (09:37)
Life insurance companies new business premium up 28% in January
13-Feb-2017 (09:30)
Connect with us :   
Globe
About us
Our Services
Milestones
Memberships
Core Values
Investor Relations
Product & Services
Broking
Institutional Broking
PMS
Clearing Services
Distribution
Research
Depository
Trade & Products
Globe Connect Pro
Globe Trade Smart
Globe Connect Mobile/Tablet
Globe News Connect
Back Office
Back Office
CMS
CMS-TM
KYC/KDC Status
Mutual Fund
CAMS
RMS Policy
Helpdesk
Download Forms
Useful Links
BSE
NSE
SEBI
RBI
MCX
NCDEX
Exchange Holidays
Policies, Procedures, Rights, Obligations and RDD
Guidance Note on FATCA and CRS May 2016
Right and Obligation, RDD, Guidance Note in Vernacular Language
In case of any grievances pleae write to
Investor_trading@globecapital.com /  igr@globecapital.com (For Trading)     globedp@globecapital.com (For DP)    Investor_pms@globecapital.com (For PMS)     
commigr@globecapital.com (For Commodities)
SEBI Regn. No. NSE.:INB/INF/INE 230663732, TM No.:06637, Clearing No.- M50302 | SEBI Regn. No. BSE.:INB/INF/INE 010663731, Clearing No.- 3179 | SEBI Regn No. MSEI :INB/F 260663738, INE 260663732, TM Code-1004, Clearing Member Code- 4 | USE SEBI Regn no. - INE 270663732 , CM code: 06637 | SEBI Regn for DP : IN-DP-NSDL-97-99, NSDL- DP ID: IN300966, CDSL DP ID: 12020600 | Research Analysts Regn No. INH100001187 | PMS Regn No. INP000002361
* Through subsidiary Globe Commodities Ltd. --> Commodity Membership No.: NCDEX- FMC Regn. No. NCDEX/TCM/CORP/0004, TM Code-00012 | MCX- FMC Regn. No. MCX/TCM/CORP/0628, CM Code-8550 | ICEX- FMC Regn. No. ICEX/TCM/CORP/0011, TM Code- 1009 | NMCE- FMC Regn. No. NMCE/TCM/CORP/0018, TM Code-CL0111 | ACE - FMC Registration no.- ACEL/TCM/CORP/0163, TM code- 4001 | UCX FMC Regn. No.: UCX/TCM?CORP/0014, TM Code- 10014 | NCDEX Spot Exchange Membership no.- NCDEXSPOT-CR-07-10011
** Through step in subsidiary Globe Comex International DMCC --> DGCX **TM Id.1064, CM Id.3064*
"We also do Pro-Account trading in Commodity Segment.."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
Attention Investors:
"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your Stock Brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of investors"
"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors."
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
© 2013 Globe Capital Market Limited. All rights reserved
Designed, Developed and Content powered by C-MOTS Infotech (ISO 9001:2008 Certified) Privacy Policy Disclaimer Terms and Conditions