Reliance Nippon Life Insurance on Thursday said it expects to achieve double-digit growth in the next five years.
In an interview to CNBC-TV18, Ashish Vohra, chief executive officer, said, "The recent sluggishness in the premium growth for Reliance Nippon Life Insurance is just a blip and a result of a thought-out strategy."
"We are optimising several levers. We are optimising for sales growth, profitability growth, quality, consistency and for customer retention. In the last 3-4 months, the company has decided to slow down some segments,” Vohra said.
"The industry growth rate at this time is above 10 percent. My view is that we will deliver broadly an industry growth rate kind of a premium delivery. I think in the next few years, a sustainable growth rate would be equal to an industry growth rate. My view on industry growth rate is somewhere between 10 percent and 15 percent kind of a number," he added.
Further, Vohra shared that the company is looking at expanding its branch network aggressively and aspires to be amongst the top five life insurers in the country.
According to Vohra, company's vision is to be in the top five in the next five years.