During the year ended March 31, 2014, MIBL generated Gross Premium of Rs.825 Crores as against Rs.620 Crores in the same period previous year, registering a growth of 33%.

MIBL registered Income at Rs.111 Crores as against Rs.86 Crores in the same period previous year, and crossing the 100-crore mark, a growth of 29%.

The Profit Before Tax (PBT) was Rs.64 Crores as against Rs.51 Crores, a growth of 25%. The Profit After Tax (PAT) was Rs.42 Crores as against Rs.34.5 Crores, a growth of 22% over the same period previous year.

During the year, MIBL crossed a milestone of 1-million of insurance cases serviced, reaching 1,068,577 nos., compared to 839,408, a growth of 27% over the previous year.

MIBL was awarded "Insurance Broker of the Year" by ABP News in February 2014, and nominated as one of the 5 finalists in the "Best PE/VC backed Financial Services Company" category at the VCCircle Awards 2014.

MIBL completes 10 years of successful operations in insurance broking in May 2014.

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About Mahindra and Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited (MMFSL), part of the USD 16.7 billion Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 3 million customers and has an AUM of over USD 5 billion. The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs. The Company has over 1000 offices across the country and is the first finance company from India to form a part of Dow Jones Sustainability Index. 

About Mahindra Insurance Brokers Limited

Mahindra Insurance Brokers Limited (MIBL), a subsidiary of MMFSL, is a licensed Composite Broker providing Direct and Reinsurance broking services. The Company is one of the leading insurance brokers in the country, having serviced over 4 million number of insurance cases since inception in 2004. Inclusion Resources Pvt. Ltd., a Singapore-based 100% subsidiary of LeapFrog Investments, picked up a 15% equity stake in MIBL in 2013.

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