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Mumbai:
Tata AIG Life has set its sight on becoming one of the
top two players in the private insurance sector with a
market share of 20 per cent by the year 2007. Tata AIG
Life has unveiled 'operation quantum leap' the company's
aggressive business growth strategy for the next three
years. 'Operation quantum leap' aims to generate a total
premium income of over Rs4,000 crore on a customer base
of around 3 million by the end of 2007.
In
addition to substantially increasing its equity capital
base from Rs276 crore, Tata AIG Life will recruit 2,500
employees from 80, and increase its network to 60 major
cities from 24 cities. Further, its agency channel comprising
25,000 personal financial advisors will be increased three-fold
to over 100,000.
Unveiling
'operation quantum leap,' Ian J. Watts, managing director,
Tata AIG Life said, "With our focus on financial
discipline, we have a clear route to profitability by
2007, which is critical to the long-term growth and sustainability
of this business. Therefore, in-line with our commitment
to fulfill the protection, savings and retirement needs
of both individual and corporate customers, today we launch
"Operation
Quantum Leap. We aim to achieve market leadership by the
end of 2007 and be one of the top two players in the private
insurance category".
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