Home   >>    Insurance   >>    Life Insurance   >>     Overview

Oriental Bank mops up insurance revenue

Oriental Bank of Commerce has exceeded their target in premium collection in its first phase of insurance business. The bank has mopped up insurance revenue worth Rs 2.51crore.

Apnainsurance.com Research Bureau

01 Aug 2008

Oriental Bank of Commerce has exceeded their target in premium collection in its first phase of insurance business. The insurance business is a joint venture with HSBC Insurance Holdings Ltd and Canara Bank. The bank has mopped up insurance revenue worth Rs 2.51crore.

As reported Business Line, Mr. R. M. Sharma, General Manager in charge of eastern region said, "Our target was to achieve Rs two crore worth premium and we have already exceeded it. This was made possible because of the co-operation of our field functionaries." He further added, "This initiative should shore up our profitability and help increase our customer base to a great extent."