Tata AIG Life looks at aggressive growth
Private sector life insurance major Tata AIG said the company's has aggressive growth plans, which require substantial investments.india Updated: Jan 15, 2008 14:42 IST
Private sector life insurance major Tata AIG on Tuesday said the company's has aggressive growth plans, which require substantial investments, but ruled out rushing for IPO at the moment.
Tata AIG Life Insurance Managing Director Trevor Bull told reporters in Kolkata on Tuesday that business of the company was growing for which substantial investments would be required. Bull, however, said the company would not rush for an initial public offer (IPO) at the moment.
The capital would be provided by the two partners, Tata and AIG. The current capital base of the company stood at Rs 700 crore.
Last year, the company earned a premium income of Rs 1367 crore.
Bull said the company was also planning to expand its footprint across the country.
Tata AIG Life today launched a new unit linked insurance product, InvestAssure Flexi.
The product has a flexible policy term between five and 40 years.
The company would invest in seven funds of various types. The premium allocation charge in the first year would range between 1.5 per cent 16 per cent depending upon the quantum of investmemts.