IDBI Federal eyes growth in pension space

IDBI Federal Life Insurance sees growth opportunity in the pension segment, which had shrunk to 2-3 percent of the total insurance business on the impact of recent regulatory guidelines from 30 percent earlier.

The company is a 48:26:26 joint venture between IDBI Bank, Federal Bank and Ageas.

Amish Tripathi, national head (marketing & product management), IDBI Federal, told the media here on Wednesday that their new traditional pension plan, Retiresurance, was aimed at tapping the potential in the segment.