SBI and Cardiff to invest Rs 200-225 crore in life insurance

Kolkata, Jan 10 (UNI) State Bank of India and its French partner Cardiff will invest Rs 200-225 crore in their life insurance venture in the country by March next for expansion of business, SBI Life Insurance Managing Director U S Roy today said.

" The investment will be in the proportion of the current holdings, " he told reporters on the sidelines of a conference of Insurance industries.

At present SBI has a 74 per cent stake as against 26 per cent held by Cardiff.

To a question, Mr Roy said the premium income of the company would grow more than double to reach Rs 7,000 crore this fiscal from Rs 3,000 crore in the last year.

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