ITGI notches 15 pc growth in MP

Indore, Mar 18 (UNI) IFFCO-TOKIO General Insurance Co (ITGI) Ltd has announced that it achieved 15 per cent growth in Madhya Pradesh in 2006-07 and the state contributed nearly 2.37 per cent to the company's total premium of Rs 1,070 crore till February 28.

With 20 per cent of its portfolio mix concentrated on fire and 60 per cent on motor insurance, ITGI emerged as the leading fire and motor insurance player in Madhya Pradesh. ITGI aims to strengthen its focus on the state by introducing unique customised low-cost products for traders, shopkeepers and offices.

''Madhya Pradesh has been a progressive market over the past few years. The market is viable for diverse businesses and we aim to tap existing potential. Our endeavour is to strengthen our portfolio by introducing value-added products that are customised for the local market,'' Executive Director (Marketing) N K Kedia told mediapersons here yesterday.

Through some of exclusive products such as Sankat Haran and Barish Bima Yojna, ITGI has been able to contribute towards the rural segment.

''Under the Sankat Haran Bima Yojna, we have distributed 6,068 claims across the country amounting to Rs 35 crore and -- in Madhya Pradesh -- 292 claims amounting to Rs 1.36 crore,'' Mr Kedia added.

Corresponding figures for the Barish Bima Yojna were 3,519 claims amounting to Rs 1.4 crore and 724 claims amounting to Rs 5.37 lakh.

These claims have been distributed in this state's Datia, Morena, Jabalpur, Satna, Khandwa and Vidisha districts within two months.

UNI