MNYL perceives India as a potential market
MNYL perceives India as a potential market and India's demographics supports the growth strongly.Apnainsurance.com Research Bureau
10 Dec 2007
Max New York Life Insurance (MNYL) perceives India as a potential market and India's demography supports the growth strongly. It expects around 10per cent per cent, i.e. $3 million of the total new business premium income form India in the financial year 2006-07.
MNYL generated 90 per cent of new premium business in the first six months in the financial year. It collected Rs. 593 crore as the new premium business income.
The major contributor to the premium income is a unit-linked insurance products (ULIP). ULIPs earned 60 per cent of the total premium.
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