According to Tata AIA Life Insurance, total AUM has surpassed Rs 1 lakh crore

According to Tata AIA Life Insurance, total AUM has surpassed Rs 1 lakh crore

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Additionally, according to Tata AIA, their claims settlement ratio increased by 0.71% to 99.19% as of December 2023 on a trailing 12-month basis.

Venkatachalam H was named CEO and MD of Tata AIA Life at the beginning of this year.

On April 26, the private life insurer Tata AIA Life Insurance Co. Ltd announced that the amount of assets under control had surpassed Rs 1 lakh crore. According to a press statement from the firm, this represents a doubling of its AUM from Rs 50,000 crore in less than three years.

The business said that exceptional investment performance and robust increase in Individual New Business premium (IWNBP) revenue had contributed to the doubling of its AUM.

"Our AUM has doubled in less than three years, which is a testament to our customers' faith in our creative solutions and exceptional customer service," said Venkatachalam H, CEO & Managing Director of Tata AIA.

Additionally, the business said that as of December 2023, on a trailing 12-month basis, its claims settlement ratio had increased by 0.71% to 99.19%. Tata AIA Life said in February 2024 that Venkatachalam H will be joining the company as MD & CEO.

Currently serving as a non-executive director of the insurance firm, Venkatachalam will succeed incumbent Naveen Tahilyani, who is moving to a different position within the Tata Group.

2016 saw Venkatachalam join Tata AIA. Prior to his promotion, the corporation said that he served as president and chief distribution officer.