MetLife (India) posts Rs 35 cr net profit

The company had reported a net loss of Rs 274.82 crore in the previous fiscal.

Improved operational efficiency coupled with planned sales helped the company register a profit, MetLife said in a statement. Besides, the company also improved on persistency and focused on risk management during the fiscal to reduce claim, it added.

"We have been able to balance our growth with profitability despite the uncertainty in the sector and this can be attributed to our healthy product mix and operational efficiency," MetLife (India) Managing Director & CEO, Rajesh Relan said. During the fiscal (2010-11) MetLife had a total revenue of Rs 2,615.13 crore, compared to Rs 2,627.63 crore in the previous financial year.

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