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Insurance Sector 7th March 2008

Insurance Sector

 

Max New York to triple capital base by 2011

Chandigarh: Max New York Life Insurance will triple its capital base from present Rs 907 crore to Rs 2,600 crore in three years which will help funding its expansion programme. The company is, additionally, targeting new premium income of Rs 9,000 crore by 2011 compared with the current Rs 1,418 crore. The number of offices will be scaled up from 233 to 533 in 400 cities and insurance advisors will go up from 30,500 to 2 lakh by 2011. The company has also announced a foray into health insurance business.

 

Max NY Life sets 3 lakh health cover policies target

 Mumbai: Max New York Life insurance has set a target of around 2.5-3 lakh health insurance policies sales by the end of the calendar year 2008. The company has rolld out a series of health insurance plans called 'Lifeline'. The plans offer insurance coverage for hospitalization, surgeries and critical illnesses. The 'Medicash' plans offer cash for hospitalization, ICU admission, recuperation benefit and a lump sum benefit against an unlimited number of surgeries. The 'Wellness' plan insures up to38 critical medical conditions including Alzheimer's , cancer and heart ailments. The 'Safety Net' insures against critical illnesses, accidents, disability and death.

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