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Our Bureau

New Delhi , June 14

AVIVA Life Insurance has crossed the one-lakh policies mark within the first two years of operation. The total number of lives covered, including group policies, is over 1,88,000.

The company now aims at garnering a premium income of Rs 200 crore for 2004-05. The company grew by 200 per cent to post over Rs 75 crore in premium income last fiscal.

According to the Aviva CEO, Mr Stuart Purdy, the figures are an endorsement of our key initiatives taken in the last two years.

Bancassurance contributed to towards more than 70 per cent of the company's business, he said. Aviva has ties with ABN Amro Bank, American Express, Canara Bank and Lakshmi Vilas Bank. "We are talking to a few more banks," Mr Purdy said.

The promoters had infused Rs 88 crore capital to increase the equity base to Rs 242.8 crore and could increase this further as the business grows.

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