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| Aegon Religare plans to add 40,000 customers in FY10 |
| Press Trust Of India / Chandigarh Oct 01, 2009, 02:19 IST |
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Private insurance company Aegon Religare Life Insurance (ARLI) plans to add 40,000 new customers this fiscal on the back of growing interest in its Unit linked and pension plans.
“Against the present customer base of 35,000, we are targeting to increase this base to 75,000 during this fiscal,” Company’s Chief Marketing Officer Yateesh Srivastava told reporters here today.
Aegon’s two popular products — Protect Gain, and pension plan accounts for 65-70 per cent of the business, he said. “Our new product Maximiser Plan along with our already launched Unit Link Insurance Plan (ULIP) and Pensions plans will push up the customers’ base this fiscal,” he said. The company would also infuse fresh capital of Rs 125 crore in the next six months in order to raise the total capital to Rs 520 crore. “We have a capital base of Rs 395 crore and we want it to raise by Rs 125 crore,” he said.
Since the launch of operations in 2008 till August, 2009, the company has received annualised premium of Rs 83 crore. “We are targeting new premium of Rs 240 crore in this financial year,” he said. ARLI will also hire 10,000 to 12,000 advisors in 2009-10 from the current strength of 4,200. In addition, the company is also keen to tie up with broking firms for marketing its products. We have recently tied up with Karvy broking firm and we plan to have more such tie ups in order to deepen our market,” he said.
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