Aviva Life Insurance today announced the launch of its insurance broking relationship with Bajaj Capital. This is Aviva’s first foray into insurance broking in India.
Aviva Life Insurance today announced the launch of its insurance broking relationship with Bajaj Capital. This is Aviva’s first foray into insurance broking in India. Bajaj Capital has formed a new company called Bajaj Capital Insurance Broking Ltd for its broking business. The company is promoted by Bajaj Capital, which is India’s premier financial planning and investment advisory services company having wide network of over 85 centers in 40 cities serving more than 600,000 investors.
Speaking on the occasion Stuart Purdy, managing director, Aviva Life Insurance, India, said, "Since the time we entered the life insurance market in India we have been on a road of high growth and expansion. We pioneered the Bancassurance channel in the country, which now contributes to 70% of our total business. We are very keen on our partnership with Bajaj Capital and look forward to our broking business replicating the Bancassurance success story."
Rajiv Bajaj, managing director, Bajaj Capital, said: "Bajaj Capital has been offering independent and unbiased financial planning advice to investors for over 39 years. Our insurance broking venture will allow us to offer ‘Best of the Breed’ insurance products to our clients, thus choosing from all the available products in the market. Our tie-up with Aviva is an important step in this direction."
Aviva will be offering customised simple protection and savings product like EasyLife Plus. EasyLife Plus is a simple savings plan with the benefit of life protection. It does not require a medical test.
About Aviva
Aviva Life Insurance is a joint venture between Dabur and Aviva. Aviva Plc is the UK’s largest insurance Group. Aviva is the world’s oldest insurance group, with a history dating back to 1696. Today, it is the seventh largest insurer worldwide, with 25 million customers and assets under management in excess of US$300 billion.
Founded in 1884, Dabur is one of India’s oldest and largest group of companies with annual sales in excess of Rs1,350 crores. A professionally managed company it is the country’s leading producer of traditional healthcare products.
About Bajaj Capital Insurance Broking Limited
Bajaj Capital Insurance Broking ltd, which has recently acquired insurance broking licence from IRDA is promoted by Bajaj Capital Limited which was set up in 1964. Bajaj Capital is India’s premier financial planning and investment advisory services company. Bajaj Capital has been there at every step, contributing to the growth of Indian financial markets.
The mission of Bajaj Capital is to become the most useful, reliable and efficient provider of financial services. Bajaj Capital’s prime objective is to be a trustworthy adviser known for its unbiased and independent advice, backed by sound research, its rich experience over four decades. Bajaj Capital’s customised financial solutions have been sought after by generation of investors. Bajaj Capital at present services over 600,000 individual investors nationwide through its network of 85 offices
For further information, please contact:
Preeti Bakaya
Aviva Life Insurance Company India Pvt. Ltd.
tel: 91124 2804141 ext: 5406
e-mail: preeti.bakaya@avivaindia.com