Mumbai Oct 24 (IANS) Private life insurer Reliance Nippon Life Insurance Co Ltd on Tuesday said it closed the second quarter of the current fiscal with a net premium income of Rs 963 crore.
A Reliance Nippon Life statement said it earned a net premium of Rs 963 crore for the quarter ended on September 30 and its embedded value (present value of the future business) on that date touched Rs 3 147 crore up from Rs 3 047 crore.
According to the company the average ticket size improved to over Rs 34 000 during the second quarter an year-on-year improvement of 33 per cent.
"We have achieved significant progress across business parameters in this fiscal driven by robust strategy and strong execution capabilities. Our focus continues towards building a profitable and customer centric growth story driven by higher agency productivity and a favourable product mix " Ashish Vohra Executive Director and CEO said in the statement.
The company s 13-month persistency rose from 61 per cent to 68 per cent in the second quarter of the current fiscal.
The life insurer s individual new business went up by 3 per cent during the period under review at Rs 169 crore the statement said.
--IANS
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