Thursday, October 22, 2009
The promoters of AEGON Religare Life Insurance have infused an additional capital of Rs 70 crore into the capital base of the Company. This enhances the Company's total capital to Rs 465 crore as of October 14, 2009. The capital infused in this fiscal year is at Rs 165 crore, including this latest infusion. This has been done to support building of distribution as part of AEGON Religare Life Insurance’s growth strategy for the financial year 2009-2010.
The additional infusion is as per the current IRDA guidelines and is in the ratio of 44:26:30 between Religare, AEGON and Bennett, Coleman & Company Limited, respectively.
The company has managed to attract nearly 40,000 customers and an APE of almost Rs 100 crore since starting operations in July 2008. AEGON Religare Life Insurance has a suite of products that are amongst the best and most competitively priced in the industry.
AEGON Religare Life Insurance is the coming together of AEGON, one of the world’s largest life insurance and pension groups and Religare, one of India’s leading integrated financial services groups.
AEGON’s businesses serve over 40 million customers in over 20 markets throughout the Americas, Europe and Asia, with major operations in the United States, the Netherlands and the United Kingdom. With headquarters in The Hague, the Netherlands, AEGON companies employ almost 32,000 people worldwide. The company’s common shares are listed on four stock exchanges: Amsterdam, London, New York and Tokyo. It manages EUR 351 billion in revenue generating investments. AEGON has more than 160 years of experience with its roots going back to 1844. It holds 26% equity in our company. http://www.aegon.com
Religare is a diversified financial services group of India offering a multitude of investment options. Financial services which Religare offers can be broadly clubbed across three key verticals - Retail, Institutional and Wealth spectrums. Religare has also ventured into the alternative investments sphere through its holistic arts initiative and Film fund. With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare operates in the wealth management space under the brand name 'Religare Macquarie Private Wealth'. Religare has a pan India presence, 1837 locations across 498 cities and towns. It also currently operates from nine international locations following its acquisition of London's brokerage & investment firm, Hichens, Harrison & Co. plc. (Now Religare Hichens, Harrison Plc). http://www.religare.in