Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Edelweiss Expects Life Insurance Business To Break Even By 2022

Financial services firm Edelweiss’ asset and wealth management business has hit a key inflection point, and is likely to grow 20 percent aided by the industry momentum, according to Rashesh Shah, chairman and chief executive officer of Edelweiss Group.

The company expects its loss-making life insurance business, which has received a nod from the insurance regulator to enter the general insurance space, to break even in financial year 2022, he told BloombergQuint in a post-earnings interaction. The company is also looking at 25-30 percent growth in the credit business, Shah added.

Watch the full interaction here: