Aviva launches 'Dhan Vriddhi'
May 15, 2007 - 4:35:04 PM
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Pointing out the company's Compounded Annual Growth Rate -, which contributes 35 percent in the growth fund and 25 percent balance fund, Khanna said that eastern India is considered one of the top two regions in the country in terms of total contribution of Aviva.
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By IANS,
[RxPG] Kolkata, May 15 - Aviva Life Insurance - the Britain-based insurance major, launched its non Unit Linked Investment Plan - - Aviva Dhan Vriddhi - in India Tuesday.
The insurance product is designed to provide a combination of savings cum protection plan with guaranteed returns and tax benefits.
The plan has money back benefits with flexible term. It has guaranteed additions of Rs.70 per Rs.1,000 assured for every completed year with the entry age of 13-55 years.
Speaking on the expansion plans, Aviva Life Insurance India's marketing director Vivek Khanna told reporters that the company is now increasing the number of their branches across India.
'In 2005 we had 41 branches altogether but now we have increased this number to 156. We have now targeted to increase the number of our branches in India to 192 by the end of this calendar year,' Khanna said during the national launch of the insurance plan here.
He said the company has also grown in terms of premium collection in the last one year.
'The total amount of premium collection in 2005 was Rs.9.7 billion which has been increased to Rs.20.7 billion in 2006,' he said.
Aviva Life Insurance is a 74:26 joint venture between Dabur and Aviva.
Pointing out the company's Compounded Annual Growth Rate -, which contributes 35 percent in the growth fund and 25 percent balance fund, Khanna said that eastern India is considered one of the top two regions in the country in terms of total contribution of Aviva.
'In 2007, we are investing close to Rs.2 billion to increase the sales force of company's insurance products,' he added.
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