New India Assurance is targeting an 18% growth in premium income this financial year, according to Chairman and Managing Director G. Srinivasan.
The company registered premium income of ₹26,500 crore last financial year, as against the target of ₹26,000 crore. The growth last year was 19%. During the last two years, crop insurance was a driver of growth. If Ayushman Bharat, which is expected to be rolled out this year materialises, the growth rate will be higher. “We have not factored it in the target. It is going to be run by the State Governments. We will be there,” he said.
Health, motor and other retail products would be the growth drivers.