Private insurer Max New York Life Insurance Company has raised its paid-up capital by Rs 350 crore to Rs 1,782 crore in the current financial year to fund its expansion plan. Max New York will also hire three lakh agents and over 25,000 employees over the next few months. It is part of Analjit Singh's Max group.Though there is a slowdown, the insurance firm has recruited about 7,000 in this fiscal, taking its total staff strength to 15,000 in India. At present, the private life insurance player employs 61,500 agents.
The company plans to increase its total paid-up capital to Rs 3,600 crore by 2011-12.The insurer, which expects to improve its premium income four-to-five fold by 2011, has sold about 5.77 lakh policies in the first six months of the current fiscal.
The company plans to increase its total paid-up capital to Rs 3,600 crore by 2011-12.The insurer, which expects to improve its premium income four-to-five fold by 2011, has sold about 5.77 lakh policies in the first six months of the current fiscal.
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