Oriental Insurance aims for Rs 65 billion growth in business this fiscal

Public sector insurer, Oriental Insurance Company which touched Rs 55 billion or Rs 5,500 crore in premiums last year, is aiming to touch Rs 65 billion this fiscal.

R K Kaul Chairman & Managing Director, Oriental Insurance Company said that the company aims to achieve a business growth of Rs 65 billion (Rs 6,500 crore) in the current financial year 2011-12 and touch Rs 100 billion mark in the next 3 years.

"We are maintaining an annual growth rate of 16.5%. Last year, we garnered business of approximately Rs 5,500 crore (Rs 55 billion). Within the next three years we are hopeful of touching Rs 10,000 crore (Rs 100 billion) mark," he added.

Speaking to reporters, at an event, he stated that Oriental Insurance is particularly positive about the health insurance segment.

Oriental Insurance Company has insurance solutions for varied needs of individuals and has a large network of offices and employees – more than 900 offices and 15,000 employees across India.