Financial Daily from THE HINDU group of publications
Tuesday, Aug 19, 2003

Port Info

Group Sites

Money & Banking - Life Insurance

AMP Sanmar pegs Rs 30-cr annual premium

Our Bureau

The Australian cricketer and brand ambassador for AMP Sanmar, Steve Waugh, in Kochi on Monday.

Kochi, Aug. 18

AMP Sanmar, the life insurance joint venture between AMP of Australia and the Sanmar group, is anticipating good performance in Kerala with an expected first-year premium of Rs 30 crore this year.

Addressing newspersons on Monday, Mr Graham Meyer, Managing Director, said that 15 per cent of the business would accrue from non-agency channels, third party distribution and group products.

The company will increase its advisor force to 4,000 by end of this year from the current level of 3,000 as it expects to cover 75,000 lives this year from the current level of 60,000, he added.

In sales, the company sees growth in retail market, third party distribution through alliances with large and small banks, marketing partners and corporate marketing for group products.

"Our aim is to have an office in every district capital in Kerala in the current fiscal itself. Currently, we have offices at Kochi, Thiruvananthapuram, Kottayam, Kozhikode, Kannur, Thrissur and Palakkad," he said.

The group also introduced its brand ambassador, Australian cricketer Steve Waugh, at the meet. This is Waugh's second visit to Kerala in his role as brand ambassador. He had also participated in a fund-raising campaign for the Aluva-based orphanage Jan Seva Sisu Bhavan, set up for alleviating the hardship and securing the future of children.

According to Mr S.V. Mony, Vice-Chairman, the company has made good impact in the Southern markets and also has established presence in parts of Maharashtra and Gujarat.

It has chalked out a strong growth plan for the current fiscal with 118 customer service centres across the country.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Banks reluctant to disclose `unrealised gains' in debt

Re closes firmer
AMP Sanmar pegs Rs 30-cr annual premium
Low-premium health insurance — PSU insurers set to lose over Rs 10,000 cr
IOB's non-food credit surges
HSBC into insurance broking — Golden handshake overshoots target
State development loans sale on Aug 25
ICICI Bank bond issue to open on Aug 22; cuts interest rates
KBJNL saves Rs 27 cr through call option
Bill makes co-ops to ponder on life after 56
HDFC Standard Life to launch `unitised with profits' scheme

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line