Aegon Religare to invest 400 crore in 2011
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Aegon Religare to invest 400 crore in 2011

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To support business growth the promoters of Aegon Religare Life Insurance (ARLI) will introduce about Rs 400 crore in the company in the next financial year to support business growth. The ARLI’s capital base will increase from Rs 950 crore to Rs 1,350 crore, post capital infusion. To grow our business the expected capital infusion of Rs. 350-400 crore will help. This 3 year old insures is in contact with Punjab National Bank for a distribution tie-up, and can show signs of profit in six months. Individual agents sell 40 percent of its policies and 15 per cent through the direct distribution channel. The remaining percentage of sales is done by online. Post budget, the work of insurance bill has speed up as the new bill expects to allow up to 49 per cent FDI in the sector, up from the present cap of 26 per cent. The new bill believes to bring in good capital through private insurers. The rate of work by reforms has increased as the Insurance bill was long overdue. It is also seen that the The increase in the FDI cap will help companies where the Indian promoters are finding it tough to bring in capital.

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