Aviva Life gets IRDA license

By Our Banking Bureau | 15 May 2002

1

New Delhi: The Insurance Regulatory and Development Authority (IRDA) has granted licence to Aviva Life Insurance Co to operate a life insurance company in India. Aviva is a joint venture company between CGNU of the UK and Dabur. The company hopes to commence operations within one month.

Aviva has established branches in Delhi, Mumbai, Chennai, Kolkata, Bangalore and Hyderabad. The company has established distribution relationships with ABN Amro Bank, Lakshmi Vilas Bank and Canara Bank.

Aviva Life Insurance chief executive officer Stuart Purdy says his company hopes to offer a wide range of flexible and innovative savings and protection policies through its network of 500 advisors in the six launch locations.

 

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