Aviva ties up with Paul Merchants Ltd to woo NRIs

Chandigarh, July 20 (UNI) Aviva Life Insurance has tied up with Paul Merchants Ltd (PML), a non banking financial services company, to sell its insurance and pension products and hopes to expand its reach to the NRI customers.

Aviva Regional Director (North) Yash Jagdhari and PML Director Rajneesh Bansal, here to promote business in the northern region, said in a joint press conference today that under the agreement Aviva will have access to PML's network of around 110 branches and more than 10,000 sub-agents across the country to sell its insurance and pension products to PML's customers.

''We have a strong presence in Punjab through our bancassurance tie-ups and direct sales force. We have a long-term and aggressive plan for the sector and expect that our new initiative will enable us to expand our reach to include NRI customers,'' Mr Jagdhari said.

Aviva, which entered in the insurance sector in June 2002 in a joint venture with Dabur India, currently sells its products through its own branches, branch insurance partners, corporate agency and broker partnerships.

At present the company has 4.7 per cent market share in the country's insurance sector, he added.

UNI