Max New York Life Insurance eyeing Kerala market

Kochi, Feb 27 (UNI) Aiming to garner six per cent share of the insurance market in Kerala, Max New York Life Insurance, one of India's leading life insurance companies, opened its first general office here today.

Speaking to reporters here, Company Distribution Executive Director Rajesh Sud said the comapny would be opening six more offices in Kottayam, Thrissur, Kannur, Kozhikode, Thiruvananthapuram and Kollam in the State.

''The growth potential of the Kerala insurance market is great as the ownernship percentage was only 27, compared to the insurance awareness percentage, which is close to 90,'' he noted.

Mr Sud said Max Life wanted people to view insurance as a financial protection and wealth creation instrument rather than a tax-saving tool.

''Our aim is to provide risk protection and long-term wealth creation solutions by offering flexible product portfolios to meet customer requirements,'' Mr Sud said.

Max New York Life, a joint venture between Max India Ltd and New York Life, had sold over 2.1 mn policies and recorded a sum assured of over Rs 62,000 crore through its network of 233 offices across 155 cities in the country.

The company had developed a strong corporate governance model based on definite core values of caring, knowledge, excellence and honesty to establish itself as a trusted life insurance specialist on the bedrock of quality of advice, Mr Sud said.

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