New Delhi: Max New York Life Insurance, country's fourth largest private sector insurer plans hiring around 14,000 employees and 30,000 agents in the current fiscal. The company is thinking to hire 44,000 at a time when many global companies are slashing jobs to cut costs due to the global recession.Another private sector insurer MetLife India had on Monday announced hiring about 2,000 managers as well as 30,000 advisors and double its network by March.
The decision to hire more people comes at a time when many financial sector giants like Citigroup and American Express have announced extensive plans to reduce their workforce.The company expects an overall premium growth of 65 per cent in the year 2008-09. In the last fiscal, it collected premium of Rs 2,714 crore and this year it is expected to rise to more than Rs 3,500 crore.
Currently, Max New York Life Insurance has 30 lakh policyholders. Max New York Life Insurance, which is a joint venture between Max India Ltd and New York Life, has a market share of eight per cent among private life insurers in India. At present, it has around 500 branches and planning to increase it to 1,600 by 2011.
The decision to hire more people comes at a time when many financial sector giants like Citigroup and American Express have announced extensive plans to reduce their workforce.The company expects an overall premium growth of 65 per cent in the year 2008-09. In the last fiscal, it collected premium of Rs 2,714 crore and this year it is expected to rise to more than Rs 3,500 crore.
Currently, Max New York Life Insurance has 30 lakh policyholders. Max New York Life Insurance, which is a joint venture between Max India Ltd and New York Life, has a market share of eight per cent among private life insurers in India. At present, it has around 500 branches and planning to increase it to 1,600 by 2011.
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