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Exide Life Insurance to launch 2 more products in next 3 months

Hyderabad, May 19 (UNI) Exide Life Insurance company would launch two more new policies in next 3 months including Money back and high-end policy.
The company recorded a growth of 36 per cent in new business premium and 18 per cent in total premium in last year, the company CEO and Managing Director, Kshitij Jain said in a press conference here today.
This year also expecting more growth compared to last year, he informed.
The company is 100% owned by Exide Industries Limited. The company serves over 15 lakh customers and manages assets of over Rs 11000 Crores.
During the financial year 2016-17, the company achieved total Premium Income of over RsR 2,400 crores and delivered Rs 112 crores in Profits (PBT), he said.
Commenting on the Company’s fiscal performance and the encouraging traction received in Andhra and Telangana region, Kshitij Jain, said, our continued commitment over last 15 years in building a diversified distribution network in Andhra and Telangana has made Exide Life Insurance a leading player in the region. Today the region accounts for over 15 per cent of Company’s business as compared to 8 per cent in case of private players.
The company stays focused on providing long term protection, savings and investment solutions to its customers, he added.
The Company distributes its products through multi-channels -- Agency, Banc assurance, Corporate Agency and Broking as well as Direct Channels.
The company also offers group life insurance solutions, he added.