Financial Daily from THE HINDU group of publications
Friday, Jan 27, 2006


Group Sites

Money & Banking - Life Insurance

Number of Indians in million-dollar agent club to rise

Our Bureau

Chennai , Jan. 26

AT the end of last year, there were only 628 Indians in the 33,000-strong Million Dollar Round Table — an association of life insurance agents with the previous year earnings above a certain benchmark.

Indian insurance agents who earned first premium commission of Rs 6 lakh are eligible to join the MDRT, membership in which will give the agents a tag of prestige and opportunities to share knowledge and expertise of other members around the world.

According to Mr Radhakrishna K. Shetty, Zone Chair, India and Sri Lanka, MDRT, Indian membership would rise to over 1,000 in 2006.

He said that of the 1.1 million agents that the Indian life insurance industry has, only about 2,000 are eligible to apply for membership.

Addressing a press conference , Mr Shetty and Mr Stephen Rothschild, another MDRT member, said Indian agents would find it useful to share knowledge and expertise of other agents, particularly because the Indian market would see a lot more of new products.

For example, Mr Rothschild said, products related to `business insurance' would sell well in India in the coming years.

These products relate to life insurance of key men in a business and those help retain employees by promising them incentives for staying on — `golden handcuff' products.

More Stories on : Life Insurance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
India Infoline plans foray into investment banking

JM Financial to set up private equity fund
Magma Leasing Q3 disbursals, net up
Oracle India wins 400 new deals
Aviva Life hikes capital by Rs 139 cr; APE at Rs 314 cr
Birla Sun Life adopts tool for automated underwriting
Number of Indians in million-dollar agent club to rise
RBI gives nod for appointment of `Business Correspondents' — Banks can now offer loans, accept deposits thru agents
Bank of Rajasthan to distribute Principal PNB's MF products
APSFC, Bank of India in pact for speedy credit to SMEs
An Indian touch to Indonesian bank museum
Asset reconstruction cos seek clarity on tax implications
Corporates find bank deposits attractive
NHB wants RBI to handle some regulatory functions — We can focus better on underserved sections: P.K. Gupta
`India among fastest growing markets for Visa'
`Theft of data, major concern for consumers'

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line