The Hindu Business Line : NRAS aims for Rs 20-cr turnover

NICHE Risk Advisory Services Pvt Ltd (NRAS), involved in the selling of Tata AIG life and general insurance products in South India, has set a target of 100 per cent growth in Kerala towards achieving a turnover of Rs 20 crore from the State by the end of fiscal 2006.

The company will close the financial year 2004-05 with a turnover of Rs10 crore in its core activity of life insurance and general insurance. Kerala is the leading contributor to the turnover of the company among the other three southern states and the company plans an aggressive thrust in the State to gain a greater market share in the coming months, Mr Suresh Devadas, Managing Director, NRAS said at a press meet.

According to Mr Devadas, there is a good potential of marine insurance and travel insurance in the State especially in Kochi after the inauguration of Vallarpadam Container Terminal project and with the growth of IT related industries.

The market potential for general insurance business in the State is estimated in the range between Rs 600 and Rs 1,000 crore whereas for life insurance business, it is to the tune of Rs 500-750 crore, he added.

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