Business Services Industry
INDIA'S AVIVA LIFE AIMS TO TREBLE BUSINESS IN NEXT FISCAL YR.
AsiaPulse News, March, 2003
NEW DELHI, March 12 Asia Pulse - Aviva Life Insurance aims to treble its business to over Rs 600 million (US$12.52 million) in the next fiscal year and plans to invest additional Rs 700 million by January 2004, a top official said.
"We hope to sell about 20,000 policies in this fiscal for a premium income of 200-250 million. We hope to more than double or treble our business (Rs 600-750 million) next fiscal," Aviva Life CEO, Stuart Purdy, told PTI here.
The 74:26 joint venture between Dabur and Aviva Plc of UK already sold over 16,000 policies for a premium income of about Rs 195 million within eight months of its operations.
The company started with an initial capital of Rs 1.1 billion and another Rs 450 million was infused recently.
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