AEGON eyeing Rs500 crore biz this fiscal

AEGON eyeing Rs500 crore biz this fiscal

Thiruchirapapli: Global financial services group, AEGON Religare Life Insurance on Monday said it is eyeing a business turnover of Rs500 crore this fiscal.

AEGON Religare Life Insurance is a joint venture between the Netherlands-headquartered AEGON and Religare Enterprises Ltd.

The company, launched in 2008, garnered 45,000 policies in 2009-10 with first premium collection of Rs166 crore, Yateesh Srivastava, chief marketing officer of the company told the news agency here.

“This year, we are hopeful of selling 1,40,000 policies with a premium collection of Rs500 crore. Currently, we have got 100 branches across the country and our plan is to add 20 more branches this year in Meerut, Kota, Moradabad, Bhilai, Cuttack, Asansol, Pune, Gwalior, Agra and Kollam," he said.

As of now business partners and corporate agents were in 180 locations and their presence would increase to 200 locations this year, he said.

Online policy registration across the country was a special feature of the company and very soon a unique Unit Linked Online Policy will be launched simultaneously at all centers across the country, he said.

He said there was no plan to open overseas branches and currently the focus is on branch expansion in Tier II and III towns.

The company has over 2,800 employees and as part of its current expansion the headcount will increase to 3,500 by end of the year, he said.