IndiaFirst Life is planning to infuse Rs 120 cr to fund expansion

[Madhura]

Private insurer IndiaFirst Life Insurance, which has a paid up capital of Rs 430 crore, is planning to infuse another Rs 120 crore to fund its expansion plans and to maintain solvency margin.

The focus of the 17-month-old company in FY 12 will mainly be on maintaining cost and increase productivity that will help it to reach the break even target within five years of operations.
IndiaFirst Life Insurance is a joint venture between two of India's largest public sector banks - Bank of Baroda and Andhra Bank -- along with the UK's leading risk, wealth and investment company, Legal & General.

Source - economictimes.com

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