Tata AIA Life Insurance says total AUM crosses Rs 1 lakh crore-mark

Early this year, Tata AIA Life appointed Venkatachalam H as CEO & MD

Private life insurer Tata AIA Life Insurance Co. Ltd said on April 26 that it had crossed Rs 1 lakh crore in assets under management. This signifies a doubling of its AUM in less than three years from Rs 50,000 crore, the company said in a release.

The doubling of its AUM has been fuelled by strong growth in Individual New Business premium (IWNBP) income and superior investment performance, the company added.

“The doubling of our AUM in less than 3 years, is a testimony to the trust reposed by our consumers in our innovative solutions and service experience," said Venkatachalam H , Chief Executive Officer & Managing Director, Tata AIA.

Further, the company said its claims settlement ratio improved to 99.19% as of December 2023 on a trailing 12-month basis, growing by 0.71%. In February 2024, Tata AIA Life announced the appointment of Venkatachalam H as its new MD & CEO.

Venkatachalam will take over from incumbent Naveen Tahilyani, who moves to another role within the Tata Group but will continue as a non-executive director of the insurance company.

Venkatachalam joined Tata AIA in 2016. He was president and chief distribution officer before his elevation, the company said.