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.

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