Aviva Life Insurance, a joint venture between Aviva Plc of UK and Indian FMCG major Dabur Group, is on an aggressive expansion spree in India. The company is planning to increase the number of branches from 112 at present to 191 in the next one year.Bert Paterson, MD, Aviva Life today said that the company will also increase its existing sales force of 13,500 to 31,000 by end 2007.The company is also planning to introduce new insurance products that will address specific needs of the target customers. "One of these will be a unit linked insurance plan," Paterson said, without giving any details about the rest of the products. "A few products have been submitted to the regulator, and they will be introduced in the following few months," he said.Paterson said the company has sold 200,000 policies during the year uptil October end and the number of policies it has sold since inception is 415,000. The company wrote insurance policies of Rs 971 crore last year (2005) while the sum assured so far this year is Rs 2200 crore. Aviva Life holds 5.7% of the market pie, he added.
