Financial Daily from THE HINDU group of publications
Wednesday, Nov 03, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 03, 2004 |
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Money & Banking
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Life Insurance Bajaj Allianz Life to expand product range Nilanjan Dey
Kolkata , Nov. 2 BAJAJ Allianz Life Insurance has decided to expand its basket of unit-linked products, beginning with a scheme specially designed for women. It also plans to focus on health insurance in line with what has been desired by the insurance regulator. An exercise to come out with new products has been initiated already, thanks to pension schemes, for which the company has received regulatory approval. It has zeroed in on a couple of schemes, both unitised and with features that make them quite flexible. The scheme for women is expected to strengthen a trend that is just beginning to take shape in insurance circles, according to Mr Sam Ghosh, CEOThe company, which had earlier appointed DSP Merrill Lynch as investment advisor, hopes to strengthen its tie-up with the fund house, which currently manages a number of funds, both equity and debt. Bajaj Allianz also hopes to turn out a better performance in terms of premium income, which stands at Rs 250 crore or so. Bancassurance has been identified as a thrust area, Mr Ghosh said, adding that tie-ups have been forged with banks for distributing its schemes.
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