| As part of its plan to increase its premium income from Nashik region to Rs 16 crore in 2006-07, Bajaj Allianz Life Insurance is set to open four new branches in the area before the end of this month.
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| ''The branches will be opened in Nashik Road, Sinnar, Pimpalgaon and Satana," said a company official.
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| The company has doubled its premium from new businesses in 2005-06 to Rs 8 crore. Around 2,000 policies were sold during the same period.
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| "Currently, we have 400 insurance consultants in Nashik and we are planning to raise this figure to 1,400 by March 2007," officials said.
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| The company registered 215 per cent growth in 2005-06. During the same period, 81,484 policies were sold clocking a premium of Rs 2,715 crore.
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| In 2004-05, the company had sold 2,88,189 policies with premium income touching Rs 835 crore. For 2006-07, the company is eyeing a premium target of Rs 8,500 crore.
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| The company has forged strong bancassurance and corporate agency relationships and continues to build on new tie-ups for fast track growth and deep market penetration.
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| Currently, it has a portfolio of 19 products and more products are in the pipeline. |
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