Standalone health insurer Apollo Munich Health Insurance today said it is expanding its footprint across the country with bancassurance tie-up with state-owned Dena Bank.
Under the tie-up the bank will distribute customised Apollo Munich Health insurance and personal accident policies to the bank's 20 million customers nationwide, a release issued here said.
Apollo Munich Health has developed specialised health insurance solutions with distinctive benefits and an uncomplicated application process, exclusively for Dena Bank customers.
"Since our first bancassurance tie-up in 2013, we have seen a growing trend in the number of people buying health insurance policies through their banks. Our tie-up with Dena Bank helps to strengthen our vision to be a trusted leader in the health insurance sector," Apollo Munich Health Chief Executive Officer Antony Jacob said.
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Canara HSBC OBC launches iSelect Term Plan
Canara HSBC Oriental Bank of Commerce Life Insurance today announced launch of iSelect Term Plan (available online), which provides enhanced protection cover for the family at an affordable premium.
With iSelect Term Plan one can design their own financial safety net so that they can protect their family's future and ensure that they lead their lives comfortably, the company said in a release issued here.
"iSelect Term Plan is a simple product which is available online, has an easy and convenient premium payment options and is a simple to understand product which offers very high value to the customer," Canara HSBC OBC Life Chief Executive Officer Anuj Mathur said.
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Societe Generale appoints Rajat Kohli as global mkts head Ind
French lender Societe Generale today said it has appointed Rajat Kohli as the head of global markets for the country.
He will be replacing Gopal Bhattacharya, who has quit the company, and is tasked with developing its derivatives and forex products, it said in a statement.
Kohli joins SG from BNP Paribas, where he was heading the institutional business in their global markets division.
He will be based in the financial capital and report to country chief executive Evelyne Collin and Arnaud Lhoste, head of markets sales for South East Asia and India, the statement said.
(Reopens BCM7)
Metro Cash & Carry appoints ex-Samsung executive as HR head
Metro Cash & Carry India has appointed Udaiy Khanna as the director and head of human resources.
Khanna was formerly associated with Samsung Electronics India as vice-president and head of human resources.
"Metro India is poised for continuous expansion in the coming years... Khanna will help strengthen two most vital pillars of our organisation - people and culture," Arvind Mediratta, CEO and managing director of Metro India, said.
Khanna has formerly handled global HRM roles at various organisations, including the erstwhile Bharti Wal-Mart India.
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JNPT installs radiological detection equipment
The marine department of the JNPT has installed radiological detection equipment at all the exit gates of the port facility.
As many as 28 vehicle monitor systems have been installed at different gates, Jawaharlal Nehru Port Trust (JNPT) said in a statement today.
The Rs 23.32-crore installation project was awarded to Electronic Corporation of India in 2012, it said.
------------------------------------------------ ASK Investment AUM crosses Rs 10,000 cr mark
Equity portfolio management service (PMS) firm ASK Investment Managers today said its assets under management (AUM) and advisory have crossed the Rs 10,000 crore level.
"The AUM of ASK Investment Managers has grown over six -fold in the last four years to Rs 10,000 crore from Rs 1,500 crore as on September 30, 2013," the firm said in a statement.
With this, the total AUM of ASK Group has crossed the Rs 30,000-crore level, making it one of the fastest-growing financial services entities in India.
ASK Investment Managers has almost 11 per cent of the domestic market share in overall discretionary equity assets managed under PMS structure.
(Reopens BCM29)
Tata AIG General Insurance Company has received 'iAAA' rating from Icra for its claims paying ability.
The rating indicates the company's fundamentally strong position in the market and ability to meet obligations of policyholders, the private non-life insurer said in a statement.
"The rating signifies our company's strong commitment, to our partners and customers," Neelesh Garg, managing director and chief executive of Tata AIG General Insurance, said.
