rediff.com
X   
REAL-TIME QUOTE
Enter Company or MF
e.g. Tata motors, Reliance MF, 500570

Max New York Life’s premium collection down in December 2011


28 Feb 2012
Max New York Life Insurance reported a decline in premium collection that stood at Rs 205.958 crore in December 2011, down by 9% against Rs 227.38 crore in December 2010.

Max New York Life Insurance Company Ltd. is a joint venture between Max India Ltd., one of India’s multi-business corporations and New York Life Enterprises, a business unit of New York Life.

Premium collection of the insurance company which was incorporated in 2000 declined by 13% to Rs 1,288.08 crore during April- December 2011 against Rs 1,484.35 crore during April- December 2010.

The company offers individual and group life insurance products and is present across the country through a wide distribution network of multi channel distribution

Moreover, the 23 private players together collected premium of Rs 3230.22 crore in December 2011, down by 8%.

During April-December 2011, premium income of the private life insurance sector fell by 20% to Rs 19,900.10 crore

The premium collection of Life Insurance Corporation of India (LIC) rose by 1% to Rs 6,264.45 crore in December 2011 while it fell 16% to Rs 52053.44 crore during April- December 2011.

Max New York Life has 23 individual life and health insurance products and 9 riders that can be customized

Source: Dion Global    Type: Others