Max Life Insurance to penetrate to rural areas

New Delhi, Feb 22 (UNI) Max New York Life Insurance Company Ltd, a joint venture between the US-based New York Life and the Max group, has set its eyes on the rural market to enhance its presence in the country.

''We signed 1,00,000 new contracts in the rural market last year and hope to increase the number this year,'' company's Managing Director and Chief Executive Officer Gary Bennett told reporters here.

The company will also come up with new products for the segment in the next three to nine months, he said.

''We are expecting a 100 per cent growth on our premium collection by the end of this year,'' Director (Additional Distribution and Marketing) Debashis Sarkar said.

Last year the premium collection stood at Rs 839 crore.

UNI