In a conversation with Narayanan V, MD & CEO Kamlesh Rao, outlines the company's growth strategy, distribution mix, and the impact of recent regulatory changes.
How has your business performed this fiscal?
In Q1, we achieved a 20% growth, slightly below the private industry's growth of 26%. However, in Q2, our GWP growth surged to 44%, significantly outperforming the private sector. For H1 FY25, our GWP increased by 33%, surpassing the industry growth of 21% and the private life insurance sector's 24%. ABSLI ended FY24 with ₹17,260 crore in GWP. Our goal is to double our business in three years, requiring an annual growth rate of 25-26%. We have exceeded that target in the first six months of this year. Moving forward, we will focus on driving premium growth through a balanced mix of proprietary channels (agents and digital) and partnerships (bancassurance), while improving productivity and capacity.
What is your distribution plan to achieve premium growth?
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