IDBI Federal Life Insurance reported a jump of 94% in its net profit at Rs101 crore for the fiscal ended March 2017-18.

The company had clocked a net profit of Rs52 crore in 2016-17. This is the 6th consecutive year of profits since it first declared profits in 2012-13, the company said in a statement. The total premium during the year grew by 14% to Rs1,783 crore as against Rs1,565 crore in the preceding financial year.

The individual new business premium increased by 15% to Rs732 crore in 2017-18 from Rs634 crore in 2016-17. The persistency ratio on overall premium for 13 months as on February 2018 improved to 81% from 79% in the prior period, IDBI Federal Life said.

“Our customer-focused approach and enhanced tech capabilities across operational processes resulted in boosting of the persistency ratio,” said Vighnesh Shahane, CEO, IDBI Federal Life Insurance. The assets under management as on 31 March 2018 stood at Rs7,503 crore, up by 23% from Rs6,090 crore at end of March 2017.

Our reason to exist, our purpose, is to provide means for people to live a life and lifestyle of their choice. We achieve that by helping people plan for the future with life insurance.

This focus on human relationships has bolstered our growth over the years. It has helped us make a positive difference in the lives of all our stakeholders, be it our customers, employees, shareholders or community in general. Our gross written premium has almost doubled in the last three years proving that more people are willing to invest in us. In a recent report, published by IRDAI, we were mentioned as the only life insurance company to have retained over 50% of our customers for over 5 years, evidence of our constant focus on post sale engagement.

We were declared among the top 10 most trusted life insurance brands in the country, 

as per Economic Times’ Brand Equity survey. What is notable is the fact that we are the 

only second generation life insurance company to feature in the list. In a short time, 

we have made significant progress to gain the trust of people.

While the world measures its success through numbers and financials, at IDBI Federal, 

we use additional intangible metrics like strength of relationships, smiles and trust!

Contact Details

  • www.idbifederal.com
  • idbi federal life insurance, shanmuga priya, 3rd floor, cross cut road, coimbatore