New Delhi: The insurance wing of cooperative behemoth IFFCO, IFFCO-Tokio, has collected GROSS Written Premium of Rs 7,050 crore in the financial year that ended on March 31, drawing widespread applause from the industry and shareholders alike. The insurance company performed quite well as it doubled its collection from Rs 3,300 cr to Rs 7,050 cr over a span of the last four years.
Congratulating the team of their performance, IFFCO MD Dr US Awasthi tweeted, "Glad to share that @IFFCO__TOKIO crossed #GWP Gross Written Premium of Rs 7050 Crores for the FY 2018-19, It's a growth of 23% wrt last year. Congratulations everyone at #IFFCO Tokio General Insurance for good performance. Aiming higher for the next FY 2019-20. Best wishes."
The 'Muskurate Raho' insurance plan of IFFCO-Tokio was a big hit among its customers which translated into good sales for the company.
IFFCO-Tokio is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group from Japan. It is the only insurance company with 100 percent-owned distribution channel.