Life Insurance market in India has a new entrant with Edelweiss Tokio Life Insurance, gearing up to take the Indian market by storm.
The company intends to set up a multi channel distribution business but will start with the implantation of the agency model. The company has set up 19 branches and will increase it to 22 by November. The target is 44 branches by the next 2 years.
The company has plans of hiring 6000 agents and forecasts with Rs. 100 crore in premiums expected by March 2013. Permissions have been received from the Insurance Regulatory Authority of India (IRDA).
The company is a joint venture between Edelweiss Capital and Japanese Insurance Company, Tokio Marine. Edelweiss holds the controlling stake of 74% in the company. The rest is held by the Japanese Insurer. Tokio Marine is however keen to increase their stake in the joint venture whenever the FDI limits in the Insurance sector in India are raised.
Seems like a company to watch out for. Watch this space for more.
But if you interested in buying insurance right now, you can give us a visit or call us for free on 1800-103-9222 and buy yourself insurance now.
The company has set up 19 branches and will increase it to 22 by November. The target is 44 branches by the next 2 years. best life insurance companies 2013
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