Aegon Religare Life Insurance (ARLI) will set up nine new branches in the south, including four in Tamil Nadu, by July as part of its business network expansion.
In Tamil Nadu, branches would come up in Chennai, Madurai, Tiruchi and Nagercoil.
“We see the south as a good market for us,” said K.S. Gopalakrishnan, Chief Financial and Appointed Actuary of AGLI, at a press conference here recently.
Started in 2008 in India, the ARLI would add 41 branches to its existing 57 branches in the tier II and tier III cities.
The ARLI has planned to triple its target from Rs.166 crore to Rs. 500 crore and double its growth rate by the end of this financial year.
It had established a tie-up with Axis Bank so that customers could pay their premium across the 1000 branches of the bank.
