Private insurer Tata AIG Life Insurance Company said on May 26th, it planned to expand its footprint in the country by increasing its offices and focus on small towns which offered higher growth prospects.
"We are planning to increase our number of offices from 72 to 120 during the year. Ten new branches will be added in the eastern region," Tata AIG managing director Trevor Bull said here today.
He said the sales force would double from 10,000 and the company would move into smaller towns to achieve growth targets.
Bull indicated with the sharp rise in offices and sales force during the year, the company was aiming at a quantum jump in premium income.
The premium income was Rs1,367 crore during 2006-07, including new premium of Rs478 crore. Tata Group companies account for 2 per cent of the total premium earning of Tata AIG Life.
Bull said the company would need fresh capital infusion. The present capital of Tata AIG Life was Rs440 crore.
The company said it was looking to launch new products during the current year in health, pension, gratuity and unit linked products. -http://www.tata.com
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