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Our Bureau

Visakhapatnam , March 6

Bajaj Allianz Life Insurance Company is planning to increase the number of its offices to a thousand from the present 550 and double its business volume of Rs 3,000 crore by next year.

At a press meet here on Monday, Mr Sam Ghosh, Country manager and CEO, said the market share of the company at 7.3 per cent would be doubled by next year. He claimed his company was the leading private life insurer in the country.

According to the latest IRDA data, he said the company had recorded a new business of over Rs 1,680 crore from April 2005 to January 2006, a four-fold jump over the volume during the corresponding period in the previous year.

Mr Ghosh attributed the company's success to its agents who number around 95,000. The products are also being sold through a number of banks such as Syndicate Bank and also through several co-operative banks. The Zonal Manager of the company, Mr Augustine, said there are 9,000 consultants in Andhra Pradesh and 440 facility managers. The company is doing well in the State, with special training imparted to consultants to offer customised solutions.

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