Aviva Life Insurance Fully Resolves the Dispute
This issue has been fully resolved. Aviva Life Insurance continues to operate as normal. Aviva India has a strong balance sheet and maintains a solvency margin in excess of regulatory requirements. We were surprised that a small commercial dispute of INR 27 lacs led to an insolvency order against us given our ongoing financial strength and such orders would not ordinarily be legally passed against insurers.
We would like to once again express our gratitude for the support of customers, partners and regulators. Aviva India remains committed to building the business and continuing the strong growth momentum of 30% sales increase we achieved in Q2 of this fiscal year.