December 10, 2004 | The Free Press Journal

Tata AIG Life Insurance aims to achieve 20 pc market share

Tata AIG Life Insurance Company, an insurance joint venture between Tata Group and American International Group (AIG), on Thursday unveiled an aggressive business expansion plan for the next three years to achieve a market share of 20 per cent among the private insurance players and generate a total premium income of over Rs 4,000 crore on a customer base of around three million by the end of 2007, reports UNI.

Describing the plan as "Operation Quantum Leap", Tata AIG Managing Director Ian Watts told reporters that the expansion programme would be supported by an additional capital infusion of Rs 230 crore in the year 2005 by the promoters. Currently, the company has a capital base of Rs 276 crore with a premium income of Rs 2.76 crore for the April-Nov. period this year.