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Our Bureau

Plans entry into pension segment, network expansion

Pune , Nov 28

Network expansion, entry into the pension segment, and new products are some of the strategies chalked out by private insurer Aviva Life Insurance.

Mr Bert Paterson, Managing Director, Aviva Life Insurance told newspersons that the company plans to add 79 branches in 2007, taking the total to 191 in the country. The sales force would be increased from 13,500 to 31,000, he said, adding that the bank is also partnering with cooperative and regional rural banks in different parts of the country.

Currently it has partnerships with 29 banks for bancassurance which gives it access to 43.5 million customers, he said.

On the company's growth in India he said that it had recorded Rs 971 crore for the calendar ended December 2005 from PVNBP (present value of new business premium) and registered Rs 2,200 crore from PVNBP till October this year.

On the company's other plans he said that it would make its presence felt in the pension segment, once the sector is opened up by the Government.

Walkathon: Concern India Foundation (CIF) and Aviva Life Insurance will organise a 4-km walkathon in Pune in December to raise funds for CIF's projects for children.

Mr Bert Paterson, Managing Director, Aviva Life Insurance and Ms Kavita Shah, Chief Executive Officer, Concern India said over 5,000 people are expected to participate in the `Aviva's walk for concern'.

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