| Rajiv Gupta, senior vice- president (retail and corporate agency), said that as part of the expansion plans the company would open branches at Alappuzha, Chengannur, Kottayam, Thrissur and Kannur soon. |
| "SBI Life has set an ambitious target of around Rs 100 crore premium income from Kerala in the current fiscal," he added. |
| Kochi from where the company targets to generate 25 per cent of the total business in the state would be the nerve centre of business in Kerala. As part of the strategy, SBI Life would recruit as many as 1,500 insurance advisors of whom about 250 would be located in Kochi alone. |
| Its new office at Kochi has been networked with the headquarters of the company to provide complete support to the customers. The offices of the company would act as a one-stop shop for providing all life insurance solutions to its customers. |
| SBI Life, which has 61 branches in 53 cities, would expand its network to 150 branches spreading across 113 cities in the country. Gupta said that the company also planned to increase the agent base from 8,000 to 20,000 by the end of current fiscal. |
| Recently, the company opened two branches "" one at Bangalore and the other at Mangalore in Karnataka. |
| SBI Life earned a net profit of Rs 2.02 crore during 2005-06 on a total premium collection of Rs 1,075 crore, registering a growth of 78 per cent. |
| The new business premium generated was Rs 828 crore placing them at the fourth position among private life insurance providers of the country. |
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