Aegon Religare looks beyond tier-I cities

Aegon Religare Life Insurance Company, a joint venture between global life insurance major Aegon and the integrated financial services player based in country Religare, has lined up plans to establish its presence in cities beyond the tier-I centres.

According to Rajiv Jamkhedkar, CEO, Aegon Religare Life Insurance, "We are here for the long-term and we look forward to serving the interest of the Indian consumer. We have plans to start with a large footprint going well beyond tier-I cities across the country."

The company is expected to chart out the details in this regard soon.

Aegon Religare Life Insurance has been accorded the initial approval (R1 licence), by the Insurance Regulatory and Development Authority (Irda) to operate in the life insurance space.

The R1 licence is the first of the three steps in the registration process.

Aegon is one of the world's largest life insurance and pension companies with a presence in more than 20 countries including the US, the Netherlands and the UK.

Religare's businesses operate across three key verticals, retail, institutional and wealth spectrums. Religare boasts of a retail network in over 1,300 locations across more than 400 cities in the country.