Insurance By Choice

Pantaloon Retail is soon entering into non-life insurance industry with a joint venture with Assicurazioni Generali - one of the biggest insurance player in Italy. The license is in its final stages of approval by IRDA & can be passed anytime.

It will lead to the entry of Generali Group in India, the 3rd largest insurance group in Europe. Future Generali will hold 26% of the business while 74% will be retained by Pantaloon.

Health Insurance industry is increasing & spreading very rapidly in India. Health Insurance industry recorded a growth of 36% over last year & currently constitutes 9.6% of total insurance premiums of non-life insurance industry. ICICI Lombard has registered a record growth of 257% in Health Insurance segment as compared to previous year. This clearly shows that how much Indian public is getting aware of health safety and large number of people are turning up to buy Health Insurance policies.

Bharti-AXA announced commencement of operations for art insurance in India. Axa also owns Axa Art Insurance(UK based), the largest art insurance firm in the world. Their main focus will still be on the tradition lines of business, has started to receive some leads on art insurance from India. Company will take its time to launch products as they are first eyeing on understanding the market requirement for the product.

In a unique & innovative marketing approach, Max New York Life Insurance has entered into an agreement with Indian Railways, whereby allowing Max to approach passengers traveling by Rajdhani Trains for their Life Insurance Needs. Max New York Life will sell it policies on Bangalore, Chennai and Trivandrum Rajdhani Express trains. As per the agreement, 24 agents will be allowed to pitch for Max New York Life Insurance policies to passengers traveling on these trains.

Also the exterior & interior of these Rajdhanis will feature billboards of Max New York Life Insurance. This is probably first time that an private Insurance Player is pitching on advertising in Trains.