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SBI Life target

Atanu Sen in Calcutta on Saturday. Picture by Kishor Roy Chowdhury

Calcutta, Dec. 7: SBI Life Insurance, a private sector life insurance company, expects net profit to grow by more than 20 per cent this fiscal driven by a restructuring of its policy mix.

After the rejig, the insurance firm has cut down on its group insurance business and is focussing more on retail venture.

The insurer registered a Rs 622-crore net profit in 2012-13 and Atanu Sen, managing director of SBI Life Insurance, is confident of crossing the target of Rs 750 crore in 2013-14.

He said bringing down the group business could impact the topline, but it would also enable the company to shed major risks.

Sen was speaking on the sidelines of a session at Infocom 2013 where economist Abhirup Sarkar highlighted the role of banks and insurance firms in empowering rural India.

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