: IndiaFirst Life aims for 20% growth in Goa, Maharashtra #FinanceIndia #StockMarketNEWS #Business PANAJI: IndiaFirst Life Insurance Company Ltd., (IndiaFirst Life) and Bank of Baroda (BoB) announced

@StockMarketNEWS Fri 20 Aug, 2021

Posted in: #Business #FinanceIndia #StockMarketNEWS

IndiaFirst Life aims for 20% growth in Goa, Maharashtra #FinanceIndia #StockMarketNEWS #Business
PANAJI: IndiaFirst Life Insurance Company Ltd., (IndiaFirst Life) and Bank of Baroda (BoB) announced plans for a strong presence in Maharashtra and Goa markets in 2021-22, with target of achieving 20 per cent growth during the year.

In a joint statement the managements of IndiaFirst Life and BoB said that, there has been a significant business growth in regions like Nagpur, Pune, Jalgaon, Kolhapur, Solapur, and Panaji despite being one of the most affected regions in the pandemic.

Sunanda Roy, country head, IndiaFirst Life, said, “In line with our customer first ideology, we continue to deliver through our domain expertise, customer knowledge, and product innovations. We endeavor to service the last mile customers not only across Maharashtra and Goa but across the country, toward making insurance for all a reality. The two states accounted for approximately eight per cent of our overall business in 2020-21 and we plan to increase this share to 15 per cent in the current year.???

Headquartered in Mumbai, IndiaFirst Life with a paid-up share capital of Rs 663 crores, is one of the youngest life insurance companies in India. The company is promoted by BoB and Union Bank of India, which hold 44 per cent and 30 per cent stakes respectively. The remaining 26 per cent stake is owned by Carmel Point Investments.

In the western region, IndiaFirst Life along with BoB has network strength of over 530 branch offices spread across 37 districts. Launched on November 16, 2009, IndiaFirst Life offers simple, easy-to-understand products that are well-priced and efficiently serviced.
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