ARLI targets total received premium of Rs 500 cr

KOCHI: International insurance company, AEGON Religare Life Insurance (ARLI) on Monday said they are targetting a total Received Premium of Rs 500 crore in the current fiscal compared to Rs 166 crore in the 2009-10 fiscal.

Yateesh Srivastava, Chief Marketing Officer told reporters here that last year was a challenging one for the company and they had used the opportunity to test its distribution models. ARLI ended the year with all channels producing excellent results.

'We successfully closed 2009-10 with a Total Received Premium of Rs 166 crore, a significant increase over the previous year and in line with out business plan', he said.

The company would add more branches to its nationwide network, he said, adding these branches would be staffed with a well-trained sales force to give better advice to customers.

The company plans to increase life advisor base to 20,000 and hire over 800 relationship managers this fiscal, he said.

The company would also focus on increasing thirty party distribution through fruitful business alliances, he said.

As of now, AEGON Religare Life Insurance has attracted over 70,000 customers, he added.