Competition?s hotting up.

Sunday 18, September, 2005 Players in the insurance market are all agog about the Rs 37,000 crore that will be up for grabs soon. This money is part of the corpus under the India Millenium Deposit (IMD) which will mature in December. The State Bank Of India, its subsidiary SBI Life Insurance Company, as well as several private insurers & foreign banks are strategizing to tap this huge opportunity. LIC too has a couple of products in the pipeline to tap this IMD redemption. Among them are a whole-life unit linked insurance plan and a group Ulip plan. The market is also going to be flush with around Rs 400-Rs 500 crore around February as several policies are supposed to be maturing during that time.

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