Aviva Life Insurance anticipates de-growth in premium income collection for the current financial year, reported PTI.

"Our total premium income collection during the current fiscal is expected to be in the region of Rs 1,800 crore to Rs 1,900 crore," MD and CEO of Aviva Life Insurance T R Ramachandran said speaking to the reporters.

Out of this amount, first premium income would be around Rs 600 crore to Rs 700 crore, he said.

According to the media report, Ramachandran said there would be de-growth in premium income in the current fiscal as compared to the last fiscal.

The main reason for the de-growth in premium income collection is slowdown in the economy, he said.

On capital infusion, he said the capital base of Aviva at the moment is Rs 2,005 crore.

"There is no immediate need for fresh capital and the solvency ratio is 400 per cent as compared to the mandated 150 per cent," Ramachandran added.