IDBI Federal Life net profit grows by 31% in FY19
IDBI Federal witnessed an eight per cent growth in Total Premium from Rs 1,783 crore in FY18 to Rs 1,933 crore in FY19 driven by a 19 per cent growth in renewals and over 50 per cent growth in credit life.
IDBI Federal Life Insurance has also announced a maiden dividend of 10 per cent as recommended by the Board of Directors which will be paid out subject to approval in the AGM. Image source: Reuters