Calcutta, Nov. 14: Tata AIG Life Insurance Company has decided to introduce unit-linked products in December to cash in on the stock market boom.
Company assistant vice-president (marketing) Sujata Dutta said, “We did not have any unit-linked product in our portfolio. We feel that the present market scenario is good enough to launch such a product.”
The company has garnered a Rs 63 crore premium income in the first six months of the current financial year. “In the next six months we aim to double the premium income,” said Dutta.
The company’s Mahalife product is selling the most followed by the health product and the children’s product.
With the introduction of new products and an increase in the premium income, the company plans to enhance its capital base from the current Rs 185 crore.
“The board is yet to ratify the fresh equity to be infused in the company. However, the in-principle decision has been taken on equity infusion,” she said.
The company is currently present in 14 cities and will be expanding to an additional 5 to 6 cities in the current year. It has opened offices in Guwahati and Lucknow.