AMP Sanmar plans to increase its presence
In a bid to increase its presence in the insurance sector, AMP Sanmar on Wednesday proposed to introduce three new customised term assurance products to address the normal term cover requirements and give protection against liabilities on loans, AMP Sanmar's managing director Graham Maeyer said.
He told reporters that one of the new products would be a group insurance scheme tailored for corporate employees.
He said the company had got the approval of the Central Provident Fund commissioner to offer life policies for employees deposit linked insurance segment. This would speed up the growth of the company's group products portfolio.
He said the company, in February last, had infused a fresh capital of Rs 35 crore, for expansion of its company's operations.
The company, which was now concentrating in South India, would now concentrate on Maharashtra and Gujarat.
The company had no plans to involve in retail insurance trade in east and north India for the time being, as it wanted to consolidate its presence in south and west India.