IndiaFirst Life to infuse Rs 120 cr to fund expansion

IndiaFirst Life to infuse Rs 120 cr to fund expansion

“We are planning to infuse Rs 120 crore in the first quarter (April-June), taking the total capital to Rs 550 crore to fund our expansion plans,  and solvency capital requirements,” IndiaFirst Life Insurance Managing Director and CEO P Nandagopal said here.

Further capital infusion depends on growth of the business, he added. The focus of the 17-month-old company in FY’12 will mainly be on maintaining costs and increase productivity in order to achieve break-even within five years of operations.