The only Chennai-headquartered life insurer, AMP Sanmar
Life Insurance, has increased its capital base by Rs.35
crore to Rs.160 crore. The additional capital is to fuel
the company's expansion plans. In a slow and steady manner
the company has been booking premium. For the nine months
ended December 31, 2003, AMP Sanmar's first year premium
is Rs.15.86 crore ranking 12th in the field of 13 life
insurers. The company has 4,700 agents and focuses only
on the southern semi urban and rural markets.
company plans to increase the agency force to 9,200 in
2004 and open 22 new branches. AMP Sanmar also plans to
venture into new markets in the west and north.