KOLKATA: Aviva Life Insurance Company India Pvt. Ltd., a joint venture between Dabur and Aviva plc., is targeting 100 per cent growth in annualised premium equivalent (APE) during 2006.
Director (Marketing) of Aviva Life, Vivek Khanna, told reporters here that during January-December 2005, the APE earned by the company was Rs. 314 crore. "We hope to grow by triple digits during the current year,'' he said.
He said the promoters had already infused Rs. 139 crore into the company, raising the capital base to Rs. 459 crore.
Khanna said the capital base had been raised for expansion and meeting the solvency margin requirements.
He said that once the government allowed 49 per cent stakeholding by overseas partners, Aviva Plc was ready to increase its shareholding in the joint venture. PTI