Aegon Religare targeting Rs 500 crore premium in 2010-11

Friday 08, October, 2010 Adopting a multi-pronged strategy, Aegon Religare Life Insurance Company is targeting a total premium of Rs 500 crore this fiscal. The strategy encompasses raising capital, cutting costs, increasing the number of products, branches and agents, and expanding the online presence. The company is also planning to rope in a bank as an investor so as to grow the business manifold, using the bancassurance model. Aegon Religare is a three-way joint venture between the Netherlands-based Aegon (holding 26 per cent equity), and India's Religare Enterprises (44 per cent) and Bennett and Coleman (30 per cent). Come December, the company plans to automate its underwriting process with a software acquired from a reinsurance company.

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