Tata AIG aims to reach the top by 2007

Mumbai: Tata AIG Life has set its sight on becoming one of the top two players in the private insurance sector with a market share of 20 per cent by the year 2007. Tata AIG Life has unveiled 'operation quantum leap' the company's aggressive business growth strategy for the next three years. 'Operation quantum leap' aims to generate a total premium income of over Rs4,000 crore on a customer base of around 3 million by the end of 2007.

In addition to substantially increasing its equity capital base from Rs276 crore, Tata AIG Life will recruit 2,500 employees from 80, and increase its network to 60 major cities from 24 cities. Further, its agency channel comprising 25,000 personal financial advisors will be increased three-fold to over 100,000.

Unveiling 'operation quantum leap,' Ian J. Watts, managing director, Tata AIG Life said, "With our focus on financial discipline, we have a clear route to profitability by 2007, which is critical to the long-term growth and sustainability of this business. Therefore, in-line with our commitment to fulfill the protection, savings and retirement needs of both individual and corporate customers, today we launch "Operation Quantum Leap. We aim to achieve market leadership by the end of 2007 and be one of the top two players in the private insurance category".