Tata AIG to launch motor insurance products soon

Tata AIG to launch motor insurance products soon
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First Published: Sun, Feb 08 2009. 12 18 PM IST
Updated: Sun, Feb 08 2009. 12 18 PM IST
By PTI
Mumbai: Tata AIG General Insurance is planning to launch a slew of motor insurance products in the next few months, a top company executive said.
“We have filed 10-12 products in the motor insurance segment with the regulator. We hope by 1 April this year, our products will be in the market,” Tata AIG General Insurance’s CEO and managing director, Gaurav Garg, said at an insurance summit here.
Of the overall revenue of the company, motor insurance contributes 35%, accidental and health insurance 20-25% while the rest comes from property and casualty, he said.
The joint venture company between Tata Sons and American International Group, is also eyeing a growth of 14-15% by March this year.
“This fiscal (FY 09), we will grow at 14-15% and have a premium-collection worth Rs700-800 crore,” he said.
The company so far has collected a premium of around Rs600 crore, he said.
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First Published: Sun, Feb 08 2009. 12 18 PM IST