Amid downturn in the insurance sector, private sector insurance player Aegon Religare Life Insurance is planning to hire about 10,000 agents during the fiscal.
"We are going to hire 5,000 advisors by October and exit the year (fiscal 2009-10) with 15,000 advisors," Aegon Religare Life Insurance Chief Marketing Officer Yateesh Srivastava told PTI.
Currently, the insurance firm has about 5,000 advisors, he said.
The company is a three-way venture promoted by Religare Enterprises, Aegon of the Netherlands and Bennett, Coleman. The company started operations in 2008.
Last month, Aegon Religare Life Insurance infused an additional Rs 45 crore taking its capital base to Rs 395 crore.
The capital infused this year is at Rs 95 crore, including the latest infusion, he said, adding that this has been done to build distribution as part of the company's strategy for the financial year 2009-10.
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The company has a product basket comprising three term plans, 2 ULIPs (Unit Linked Insurance Polices), a pension plan and a child plan.
During the year, the company intends to launch many innovative products, and will foray into health and annuity product lines, he said.