Financial Daily from THE HINDU group of publications
Thursday, Jan 22, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 22, 2004 |
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Money & Banking
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Life Insurance Aviva Life sees premium income of over Rs 100 cr Our Bureau
Mumbai , Jan. 21 AVIVA Life Insurance Company Ltd expects to earn a premium income of over Rs 100 crore for the fiscal year 2003-04. The bancassurance channel of distribution is expected to contribute a large chunk of the premium income, said Mr Stuart Purdy, Managing Director, Aviva Life, addressing a press conference here today. In the first nine months of the current fiscal, the company earned a premium income of Rs 60 crore and is expected to take this amount to Rs 100 crore by the end of this financial year. Around 70 per cent of the company's business was coming through bancassurance tie-ups with ABN-Amro, American Express, Canara Bank and Lakshmi Vilas Bank, said Mr Purdy. Aviva Life Insurance launched two new unit linked funds, a secure fund and another growth fund to add to its existing balanced fund. The company will offer these fund options to its customers through its new product, `LifeBond-5', a fixed term unitised savings and investment plan.
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