Aviva Life in distribution tie-up with Anagram

Monday 17, November, 2008 MUMBAI: AVIVA Life Insurance , a joint venture between Dabur group and Aviva, on Tuesday said it has entered into a distribution tie-up with Anagram Stockbroking for its insurance products and targets a 25% year-on-year growth in the current fiscal, despite global financial meltdown. The company, which earns 90% of its premium from unit-linked insurance plans (ULIPs), is planning for a capital infusion in the first quarter of calendar year 2009 to boost its expansion plans, said Aviva Life Insurance CEO & MD TR Ramachandran. However, he declined to reveal details of the plan. “We had infused Rs 344 crore in the first quarter of the current fiscal and as we target a growth of nearly 50% in the next fiscal, we would need more capital infusion to enhance our access to various places.” After its tie-up with Anagram, Aviva will have access to additional 300 locations and over 1.5 lakh customers across the country. “Despite unfavorable current financial scenario, we anticipate a rise in demand for long-term investment products with guaranteed returns, and Aviva will be able to cater to this demand of Anagram’s customers with a mixed portfolio of unit-linked insurance products and traditional insurance plans, “ Mr Ramachandran asserted. In the current uncertain market condition, insurance products could be a safe alternate investment for the investors, sources said. Said Anagram Stockbroking chairman Munesh Khanna: “It has always been our endeavour to provide a one-stop shop catering to all of the investment needs of our customers. With this tie-up with Aviva, we will be able to provide life insurance products to our customers.”

[ Back to News Room ]

Back to Top^