IndiaFirst Life Insurance ties-up with CSE Capital Markets
IndiaFirst Life Insurance, a joint venture between two public sector banks--Bank of Baroda and Andhra Bank--along with UK's leading risk, wealth and investment company Legal and General, today announced its tie-up with CSE Capital Markets Pvt Ltd (CCMPL), a subsidiary of Calcutta Stock Exchange.
The tie-up is aimed at boosting IndiaFirst Life's product distribution (both individual as well as group), thereby making deeper inroads in the eastern market and escalating growth opportunities across the country, it said in a statement.
"We are extremely happy about tying up with CCMPL. We are sure this tie-up will help our growth strategy by strengthening our distribution network in the east. We are looking at a 10-20pc YoY growth over the next 2-3 years. In order to achieve this growth we are further strengthening our presence in emerging markets that offer great potential for financial security but are inadequately served," said Dr P Nandagopal, Managing Director and CEO, IndiaFirst Life Insurance.
CCMPL will act as a corporate agent for IndiaFirst Life. It plans to garner approximately Rs 100 crore of new business in the next 3 years.