Ahmedabad: Max New York Life Insurance is looking at expanding its distribution network by opening more than 250 new offices every year for the next three to four years. Additionally it will increase the number of agent advisors from the current 46,800 to 3 lakh. The growth in agency distribution will be complemented by strong growth in partnership distribution.
The capital base of the company is likely to expand to Rs 3,600 crore from the current equity base of Rs 1,232 crore. The company has reported Rs 2,100 crore in collected premium for the January-July 2008 period, recording a growth of 81 per cent over the similar period last year. The company has a portfolio of 38 products and 8 riders for individuals and entered the health insurance segment with the launch of LifeLine Health Insurance Plans in February.
The capital base of the company is likely to expand to Rs 3,600 crore from the current equity base of Rs 1,232 crore. The company has reported Rs 2,100 crore in collected premium for the January-July 2008 period, recording a growth of 81 per cent over the similar period last year. The company has a portfolio of 38 products and 8 riders for individuals and entered the health insurance segment with the launch of LifeLine Health Insurance Plans in February.
1 comment:
Max New York now, as well? He-he. I understand NY is given great pride in life insurance, in terms of brokers and customers alike, but I had little idea companies of New York were expanding on such a worldwide scale. Having dealt with life insurance in Canada for many a year myself, I can tell you I find this a rather pivotal time in transition to the future. But, hey, I'm only human!
Anyhow, tell me more about the situation in India. It is beginning to interest me as well...
Yours truly,
Lorne
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