Leading insurance company Star Union Dai-chi Life (SUD Life) on Thursday announced that it has registered a 46% growth during 2010-11.
The company has procured Rs.758.00Crs new business premium during 2010-11, thus registering a growth of 46% over the last financial year.
The total premium income (including the renewal premium) of the company was Rs. 933crs.
This was 76% growth over last year. The company has sold 97,730 individual policies and covered 353,994 lives under group schemes.
The company has exceeded its mandatory commitments under social and rural business obligations prescribed by the regulator.
SUD Life market share in the private industry has been augmented to 1.93% by end of F.Y.2010-11 from 1.35% in March?10 and 0.15% in March?09.
The company on Thursday launched its two latest product offerings, one in the unit linked insurance product (ULIP) segment, Dhan Suraksha Express and another in the traditional category, Defined Growth Endowment Plan.
Star Union Dai-ichi Life Insurance Company Limited (SUD Life) is a joint venture of Bank of India, Union Bank of India and Dai-ichi Life Insurance, Japan.