AMP Sanmar eyes 30% growth

The AMP-Sanmar insurance company aims at a 30 per cent growth per annum through its new schemes, said managing director Graham Mayor here on Wednesday.

Speaking to reporters he said the company, a collaboration of Australia's AMP and Chennai's Sanmart Group had collected a premium of Rs 73 crore till the end of October 2004. The collection is expected to exceed Rs 115 crore by the end of current financial year.

He said the former captain of Australia cricket team Steve Waugh was the brand ambassador for the company. The company offers group term assurance to corporate institutions, employees deposit-linked insurance and group annuation pension scheme.

He said Bhagyashree, Rakshashree and Kanakashree insurance policies had become popular among the people. Mayor informed that the AMP-Sanmar had signed an MoU with the New India Assurance Company. It was concentrating on India and more so on south India. It has 70 branches in the four southern states, he added.

Former Australian cricket captain Steve Waugh said AMP-Sanmar had covered 1.65 lakh persons under the insurance schemes and has set a target of 2.5 lakh people by the end of March 2004.