AEGON Religare Life Insurance infuses Rs 70cr fresh capital

MUMBAI: The promoters of AEGON Religare Life Insurance on Thursday infused a fresh capital of Rs 70 crore into the company taking the total base to Rs 465 crore.

"This (capital infusion) has been done to support building of distribution as part of AEGON Religare Life Insurance's growth strategy for the financial year 2009-2010," a company release said.

The promoters - Religare, AEGON and Bennett,Coleman & Company- have contributed to the capital in the ratio 44:26:30, as per their shareholdings in the company.

Promoters of the company, which started operations in July last year, had earlier during the year infused Rs 95 crore fresh capital, the release said.

AEGON Reliagre has managed to attract nearly 40,000 customers and an Annual Premium Equivalent of almost Rs 100 crore so far since the beginning of its journey.