Bharti Insurance enters Punjab with Sarv Suraksha for farmers

Ludhiana, June 1 (UNI) Bharti AXA Life Insurance Company Limited, today announced the launch of its operations in Punjab with the successful distribution of the company's first rural product Sarv Suraksha to about 500 farmers in around 50 villages in the Ludhiana belt.

AXA Life is a joint venture between Bharti Enterprises and AXA Group.

The launch was also marked by the company opening its first branch office here and it plans to establish its presence in major cities in Punjab by end of this financial year.

Commenting on the launch Mr Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises said "We are delighted to launch our operations in Punjab, which is a key market for us. The life insurance market in the country is still under penetrated and offers tremendous potential for growth".

Mr Mittal said that Bharti AXA Life's product suite will help to improve acceptance of life insurance as a financial protection and wealth creation tool, while improving insurance penetration. " We are confident that with our world-class product offerings, we will emerge as one of the leading life insurance players in Punjab", he added.

Commenting on the launch, Mr Nitin Chopra, CEO, Bharti AXA Life Insurance said that the launch in Punjab was a firm step towards the companys expansion plans for the North India region. By December the company expect to launch around 20 branches in North India, he added.

Mr Chopra said that the company would open a 75-strong branch network by the end of this financial year. "Our branch and distribution plans for the region coupled with our focus on training for advisors will provide customers access to professional insurance and investment advice", he added.

UNI