Private insurer Tata AIG Life Insurance Company today said it has achieved a break even in the 10th year of operation and posted a net profit of Rs 51.79 crore for the year ended March 31, 2011.
"Tata AIG Life looks back on a successful fiscal. Our cost optimisation strategies and continued focus on persistency of business over the last four quarters resulted in this profitable growth.
To support our future growth plans, we have infused fresh capital of Rs 33 crore during the fiscal ended 31 March 2011," Tata AIG MD and CEO Suresh Mahalingam said.
The company's total Assets Under Management (AUM) have increased by 34 per cent to Rs 12,658 crore from Rs 9,456 crore in the last fiscal, he said.
"The paid-up capital stands at Rs 1,954 crore. A solvency margin of 216 per cent was a very positive indicator of the company's overall financial health,
