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IndiaFirst Life Insurance recorded a growth of five per cent or ₹894 crore in individual new business annual premium equivalent in 2020-21.
“This was the highest ever since its inception. This translates to a year on year growth of five per cent which, on the back of an industry leading 25 per cent year on year growth in 2019-20, is satisfying,” said Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance.
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The private sector life insurer also crossed ₹4,000 crore of gross premium in 2020-21 and registered a growth of six per cent in total new business APE of ₹995 crore last fiscal, it said in a statement on Thursday.
Renewal premium income crossed ₹2,000 crore in 2020-21. Individual 13th month persistency also improved to 78.7 per cent last fiscal from 75.8 per cent in 2019-20.
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