Exide Life Insurance
| Private company | |
| Industry | Life Insurance Services |
| Founded | 2001 |
| Headquarters | Bangalore India |
Area served | India |
Key people |
Kshitij Jain (MD & CEO)[1] |
Exide Life Insurance company limited, formerly ING life insurance is an Insurance company operating in the life insurance sector.[2] They have a broad category of plans such as[3] Savings and Investment plan, Protection plan and retirement and pension plans.[4][5]
Exide industries (owned by Raheja group) have 100% stake in Exide life Insurance,[6] making it a 100% Indian owned Life Insurance company besides LIC.[7] The company as ING Life Insurance came into existence in the year 2001[8][9] and transited as Exide Life Insurance in 2014 under the leadership of its MD and CEO Kshitij Jain.[10] They are currently headquartered in Bangalore, serving over 10 lakh customers pan India and are managing over 8800 crore assets.[8][11] The company is committed to set high standards in helping customers manage their financial future.[12]
Management Team
As of 29 June 2015, Exide Life Insurance management team consists of:[13]
- Kshitij Jain – Managing Director and CEO, Exide Life Insurance
- Rahul Agarwal – Chief Distribution Officer, Exide Life Insurance
- Ashwin B - Chief Operating Officer, Exide Life Insurance
- Rangarajan BN – Appointed Actuary & Chief Risk Officer, Exide Life Insurance
Key Financial and Operational Highlights
- Profits : INR 65.3 Crores are up by 23% over last year
- Total Premium Income : INR 2027 crores, a growth of 11% over last year
- New Business Premium : INR 645 crores, a growth of 14% over last year
- Renewal Premium : INR 1382 crores, a growth of 9% growth over last year
- Assets Under Management :INR 8,800 crore, a growth of 15% over last year[14]
2014 Onwards
In 2014, Exide Life launched a range of specialized products including Assured Gain Plus, which is a traditional plan offering guaranteed benefits and returns on investment.[15] This is a traditional with profits insurance cum investment product, offers guaranteed benefits and returns on investment. The policy is an investment solution for people who look for tax free returns with capital guarantee and life cover. Under the plan, one pays for 5 years only, while the benefits continue for the full policy term.The policy term options are 10, 12 or 15 years.[16]
References
- ↑ "Insurance sector can grow at double the rate of GDP: Kshitij Jain, Exide Life CEO". timesofindia-economictimes.
- ↑ "Timesofindia.indiatimes.com is temporarily unavailable". indiatimes.com.
- ↑ "Exide Life Insurance Company". Policy Dunia.
- ↑ "Life Product". irda.gov.in.
- ↑ "Insurance Policy Online - Types of Insurance Policies - Exide Life Insurance". exidelife.in.
- ↑ K R Srivats. "Exide Life Insurance to recruit 18,000 agents this year: CEO". The Hindu Business Line.
- ↑ Mahesh Kulkarni (6 May 2014). "ING Vysya Life renamed as Exide Life Insurance". business-standard.com.
- 1 2 "Exide Life Insurance - About Us". exidelife.in.
- ↑ "Exide Life Insurance launches plan with guaranteed returns". timesofindia-economictimes.
- ↑ "Exide not to divest stake in insurance business, renames Exide Life". dna. 6 May 2014.
- ↑ "ING Vysya Life Insurance Becomes Exide Life Insurance". ndtv.com.
- ↑ http://www.policyholder.gov.in/uploads/CEDocuments/Exide%20Life%20Ins%20Co%20Ltd.PDF
- ↑ "ManagementTeam". Retrieved June 29, 2015.
- ↑ "Financial Highlights". Businesswireindia.com. Retrieved June 29, 2015.
- ↑ "Exide Life Insurance launches plan with guaranteed returns". Economic Times. September 16, 2014. Retrieved July 11, 2014.
- ↑ "Exide Life launches Life Assured Gain Plus". Business Standard. September 16, 2014. Retrieved July 17, 2014.
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