Aegon Religare Life to infuse Rs 230 cr

fe Bureau
Posted: Friday, Jun 26, 2009 at 2130 hrs IST
Updated: Friday, Jun 26, 2009 at 2130 hrs IST

Font Size

Feedback

Discuss

Birla Sun Life MF AUM up 68 per cent IRDA to stick to Nov 1 deadline on disclosure norm...LIC market share rises to 66 %

Mumbai: Aegon Religare Life Insurance is likely to infuse Rs 230 crore during the current financial year. Rajiv Jamkhedkar, chief executive officer of the company, told FE that the capital infusion will be done in four tranches.

The company's capital base as of now is Rs 350 crore.Rs 50 crore has already been infused in the company during the current fiscal so far. Also, the company plans to hire 10,000 advisors and over 250 frontline sales staff in the current fiscal.

The business target for the current financial year is an annual premium earning (APE) of Rs 240 crore with over 1,10,000 policies as against 23,000 policies it has issued during past nine months since its inception. The company has lined up 2-3 Ulip products, including the guaranteed one, for launch during the current fiscal. Moreover, the company was planning to launch two more traditional products including health and annuity during the current fiscal, said Jamkhedkar.

Currently, the Ulip products account for 75% of the total products the company was having.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.