products that it wanted to bring in. It has already launched some of the products and would ‘aggressively push’ other products from January 1.
The company is cutting down its group insurance business to focus more on retail business.
Although the life insurer’s decision to gradually bring down group business to shed major risks associated with it has already impacted revenue collection, the company said it will go ahead with the plan to boost its bottom line for a ‘healthy’ growth.
The insurer garnered R622 crore net profit in FY13 and is confident of crossing its profit target of R750 crore for FY14.