Insurance firms - Edelweiss Tokio Life Insurance

Back to IndexDNA - Mumbai Wednesday, 25 May 2011 Page# :10Size : 275.53 sq.cm.(61.23 col cm)Insurance firms say Ulips stillcontribute a major part to bizIndustry expects a growth of over 10% in the current financial yearK V Ramana HYDERABADContrary to the perceptionthat the insurance companiesdepending on the Unit-LinkedInsurance Plans (Ulips) are setto face long-term headwinds,the Ulips portfolio of the companiesis still a dominant factorin the entire business ofthe companies. At least the insurancecompanies believe theUlips are here to stay and contributea majority of business,even in the regime of newnorms."Ulips contribution to thelife insurance business is settlingdown though at a lowerlevel than what it was earlier.It is likely to settle down atabout 70% of the portfolio,while the balance 30% wouldbe through traditional products,"M Suresh, managing directorof Tata AIG Life. said.Before the Insurance Regulatoryand Development Authority(Irda) laid out newnorms for Ulips, the total contributionfrom the Ulips aloneto the insurance sector includingthe industry major, LIC wasat about 55%. For the privatecompanies alone, the portfoliowas at about 85%. However, theIrda's new norms to regulate• Ulips' first yearPremium60000crore) IIHS)— 2008-09 •45000 2009-10 •3000015000Apr-Jun Jul-Sep Oct-Dec Jan-Marthe activity through Ulips wereexpcctcd to have a significantdownward effect on the insurancecompanies. "Post Septemberlast year, there was definitelysome churn. But, it is settlingdown. I think 70% fromUlips would be a stable situation,"he said.According to him, all thosewho believed in Ulips being theright insurance product continuedto buy into it. "The ticketsizes have changed. Now, wesee bigger ticket sizes," Sureshsaid.The new guidelines on Ulipshave forced the life insurers totrim costs, which led to thenumber of direct employeescoming down to 2.42 lakh from2.67 lakh a year ago, the numberof agents to 26.47 lakh frompremium (Individual policies)No of policies (lakh nos)200Source: IRDA29.78 lakh and the number ofbranches to 11.465 from 12,018a year ago.However, the Irda norms interms of containmentof costs by the insurancecompanies or regulating thecommissions paid by thecompanies to its agents arenow being seen as positivesteps towards the profitabilityof the insurance companies."The sector continues toevolve. From a growth objectivein the initial days of theprivate insurance companies,it has now changed to a profitobjective. By cutting costsor rationalising other factors,the companies are headingtowards profits and it is goodfor the business," RajeshRelan, managing directorof MetLife India Insurance,said.There are 24 private sectorinsurance players now includingthe recent entrant EdelweissTokio Life Insurance.Eight of these companies arealready into profits. "We havereported profits already," Relansaid.Believing that the sector isin for stabilisation at thispoint, the industry expects agrowth of over 10% in the currentfinancial year. M N Rao,managing director and CEO ofSBI Life Insurance, said the Indianlife insurance sector expectsto post a moderategrowth of 10-15% during thecurrent year. "The renewalpremiums were a challengelast year and this fiscal all thelife insurance companies willbe focusing on renewal premiumsas they woidd be the ultimateprofit drivers."The Indian life insuranceindustry, which has theworld's largest number of policiesin-force at 32.54 crore, suffereda setback during 2010-11with new guidelines on Ulipsslowing down the growth inpremium business at 8° ii to72,86,500 crore from 72,65,450crore a year ago.Page No : 3

Back to IndexDNA - Bangalore Wednesday, 25 May 2011 Page# :14Size : 263.3 sq.cm. (58.51 colcm)Insurance firms say Ulips stillcontribute a major part to bizIndustry expects a growth of over 10% in the current financial yearK V Ramana HYDERABADContrary to the perceptionthat the insurance companiesdepending on the Unit-LinkedInsurance Plans (Ulips) are setto face long-term headwinds,j the Ulips portfolio of the companiesis still a dominant fac-I tor in the entire business ofI the companies. At least the in-I surance companies believe theUlips are here to stay and contributea majority of business,even in the regime of newnorms."Ulips contribution to thelife insurance business is settlingdown though at a lowerlevel than what it was earlier.I It is likely to settle down atabout 70% of the portfolio,while the balance 30% wouldbe through traditional products,"M Suresh, managing directorof Tata AIG Life, said.Before the Insurance Regulatoryand Development Authority(Irda) laid out newnorms for Ulips, the total con-U'ibution from the Ulips aloneto the insurance sector includingthe industry major, LIC wasat about 55%. For the privatecompanies alone, the portfoliowas at about 85%. However, theIrda's new norms to regulate• Ulips' first year premium (individuaiponc.es)Apr-Jun Jul-Sep Oct-Dec Jan-Mar Sara im»the activity through Ulips wereexpected to have a significantdownward effect on the insurancecompanies. "Post Septemberlast year, there was definitelysome churn. But, it is settlingdown. I think 70% fromUlips would be a stable situation,"he said.According to him. all thosewho believed in Ulips being theright insurance product continuedto buy into it. "The ticketsizes have changed. Now, wesee bigger ticket sizes," Sureshsaid.The new guidelines on Ulipshave forced the life insurers totrim costs, which led to thenumber of direct employeescoming down to 2.42 lakh from2.67 lakh a year ago. the numberof agents to 26.47 lakh from29.78 lakh and the number ofbranches to 11.465 from 12,018a year ago.However, the Irda norms interms of containmentof costs by the insurancecompanies or regulating thecommissions paid by thecompanies to its agents arenow being seen as positivesteps towards the profitabilityof the insurance companies."The sector continues toevolve. From a growth objective in the initial days of theprivate insurance companies,it has now changed to a profitobjective. By cutting costsor rationalising other factors,the companies are headingtowards profits and it is goodfor the business," RajeshRelan, managing directorPage No : 4of MetLife India Insurance,said.There are 24 private sectorinsurance players now includingthe recent entrant EdelweissTokio Life Insurance.Eight of these companies arealready into profits. "We havereported profits already." Relansaid.Believing that the sector isin for stabilisation at thispoint, the industry expects agrowth of over 10% in the currentfinancial year. M N Rao,managing director and CEO ofSBI Life Insurance, said the Indianlife insurance sector expectsto post a moderategrowth of 10-15% during thecurrent year. "The renewalpremiums were a challengelast year and this fiscal all thelife insurance companies willbe focusing on renewal premiumsas they would be the ultimateprofit drivers."The Indian life insuranceindustry, which has theworld's largest number of pol i-cies in force at 32.54 crore, suffereda setback during 2010-11with new guidelines on Ulipsslowing down the growth inpremium business at 8% to?2.86,500 crore from ?2,65,450crore a year ago.

Back to IndexBusiness Line - Delhi Saturday, 14 May 2011 Page# :8Size : 102.28 sq.cm.(22.73 col cm)Edelweiss Tokio Lifehopes to commencebiz from JulyPress Trust of IndiaMumbai,Mayl3Edelweiss Tokio Life onFriday said it will try andstart its business from Julythis year, depending on productapprovals.The insurer has already receivedfinal regulatory approvalto commencebusiness."We have already submittedfour products, both undertraditional and unit-linkedportfolio, for regulatory approval.As soon as we get theapprovals we will start sellingit to the public, whichmay be in July," a companyspokesperson told PTI.The company has initialpaid-up capital of Rs 500crore, he said.Edelweiss Tokio is a jointventure between financialservices conglomerate EdelweissGroup and global insurersTokio Marine.•Tokio Marine Holdings isthe holding company for theTokio Marine Group."At 4.5 per cent, life insurancepenetration in Indiacontinues to be low. We seean.opportunity there," EdelweissGroup Chairman andCEO, Mr Rashesh Shah, saidin a release.Edelweiss has a group networthof Rs 2,400 crore and apre-tax profit of Rs 333 crorefor FY10.Page No : 5

Back to IndexBusiness Line - Mumbai Saturday, 14 May 2011 Page# :8Size : 102.28 sq.cm.(22.73 col cm)Edelweiss Tokio Lifehopes to commencebiz from JulyPress Trust of IndiaMumbai,Mayl3Edelweiss Tokio Life onFriday said it will try andstart its business from Julythis year, depending on productapprovals.The insurer has already receivedfinal regulatory approvalto commencebusiness."We have already submittedfour products, both undertraditional and unit-linkedportfolio, for regulatory approval.As soon as we get theapprovals we will start sellingit to the public, whichmay be in July," a companyspokesperson told PTI.The company has initialpaid-up capital of Rs 500crore, he said.Edelweiss Tokio is a jointventure between financialservices conglomerate EdelweissGroup and global insurersTokio Marine.•Tokio Marine Holdings isthe holding company for theTokio Marine Group."At 4.5 per cent, life insurancepenetration in Indiacontinues to be low. We seean.opportunity there," EdelweissGroup Chairman andCEO, Mr Rashesh Shah, saidin a release.Edelweiss has a group networthof Rs 2,400 crore and apre-tax profit of Rs 333 crorefor FY10.Page No : 6

Back to IndexBusiness Line - Bangalore Saturday, 14 May 2011 Page# :8Size : 102.28 sq.cm.(22.73 col cm)Edelweiss Tokio Lifehopes to commencebiz from JulyPress Trust of IndiaMumbai,Mayl3Edelweiss Tokio Life onFriday said it will try andstart its business from Julythis year, depending on productapprovals.The insurer has already receivedfinal regulatory approvalto commencebusiness."We have already submittedfour products, both undertraditional and unit-linkedportfolio, for regulatory approval.As soon as we get theapprovals we will start sellingit to the public, whichmay be in July," a companyspokesperson told PTI.The company has initialpaid-up capital of Rs 500crore, he said.Edelweiss Tokio is a jointventure between financialservices conglomerate EdelweissGroup and global insurersTokio Marine.•Tokio Marine Holdings isthe holding company for theTokio Marine Group."At 4.5 per cent, life insurancepenetration in Indiacontinues to be low. We seean.opportunity there," EdelweissGroup Chairman andCEO, Mr Rashesh Shah, saidin a release.Edelweiss has a group networthof Rs 2,400 crore and apre-tax profit of Rs 333 crorefor FY10.Page No : 7

Back to IndexBusiness Line - Hyderabad Saturday, 14 May 2011 Page# :8Size : 102.28 sq.cm.(22.73 col cm)Edelweiss Tokio Lifehopes to commencebiz from JulyPress Trust of IndiaMumbai,Mayl3Edelweiss Tokio Life onFriday said it will try andstart its business from Julythis year, depending on productapprovals.The insurer has already receivedfinal regulatory approvalto commencebusiness."We have already submittedfour products, both undertraditional and unit-linkedportfolio, for regulatory approval.As soon as we get theapprovals we will start sellingit to the public, whichmay be in July," a companyspokesperson told PTI.The company has initialpaid-up capital of Rs 500crore, he said.Edelweiss Tokio is a jointventure between financialservices conglomerate EdelweissGroup and global insurersTokio Marine.•Tokio Marine Holdings isthe holding company for theTokio Marine Group."At 4.5 per cent, life insurancepenetration in Indiacontinues to be low. We seean.opportunity there," EdelweissGroup Chairman andCEO, Mr Rashesh Shah, saidin a release.Edelweiss has a group networthof Rs 2,400 crore and apre-tax profit of Rs 333 crorefor FY10.Page No : 8

Back to IndexBusiness Line - Chennai Saturday, 14 May 2011 Page# :8Size : 102.28 sq.cm.(22.73 col cm)Edelweiss Tokio Lifehopes to commencebiz from JulyPress Trust of IndiaMumbai,Mayl3Edelweiss Tokio Life onFriday said it will try andstart its business from Julythis year, depending on productapprovals.The insurer has already receivedfinal regulatory approvalto commencebusiness."We have already submittedfour products, both undertraditional and unit-linkedportfolio, for regulatory approval.As soon as we get theapprovals we will start sellingit to the public, whichmay be in July," a companyspokesperson told PTI.The company has initialpaid-up capital of Rs 500crore, he said.Edelweiss Tokio is a jointventure between financialservices conglomerate EdelweissGroup and global insurersTokio Marine.•Tokio Marine Holdings isthe holding company for theTokio Marine Group."At 4.5 per cent, life insurancepenetration in Indiacontinues to be low. We seean.opportunity there," EdelweissGroup Chairman andCEO, Mr Rashesh Shah, saidin a release.Edelweiss has a group networthof Rs 2,400 crore and apre-tax profit of Rs 333 crorefor FY10.Page No : 9

Back to IndexBusiness Line - Kolkata Saturday, 14 May 2011 Page# :8Size : 102.28 sq.cm.(22.73 col cm)Edelweiss Tokio Lifehopes to commencebiz from JulyPress Trust of IndiaMumbai,Mayl3Edelweiss Tokio Life onFriday said it will try andstart its business from Julythis year, depending on productapprovals.The insurer has already receivedfinal regulatory approvalto commencebusiness."We have already submittedfour products, both undertraditional and unit-linkedportfolio, for regulatory approval.As soon as we get theapprovals we will start sellingit to the public, whichmay be in July," a companyspokesperson told PTI.The company has initialpaid-up capital of Rs 500crore, he said.Edelweiss Tokio is a jointventure between financialservices conglomerate EdelweissGroup and global insurersTokio Marine.•Tokio Marine Holdings isthe holding company for theTokio Marine Group."At 4.5 per cent, life insurancepenetration in Indiacontinues to be low. We seean.opportunity there," EdelweissGroup Chairman andCEO, Mr Rashesh Shah, saidin a release.Edelweiss has a group networthof Rs 2,400 crore and apre-tax profit of Rs 333 crorefor FY10.Page No : 10

Back to IndexKolkata Age - Asian Age - Kolkata Saturday, 14 May 2011 Page# :11 Size : 13.03 sq.cm.Edelweiss Toklo Life willtry to start its businessfrom July this year,depending on productapprovals. The insurer, has already receivedfinal regulatory approval' to commence business.Page No : 11

Back to IndexMint - Delhi Friday, 13 May 2011 Page# :11Size : 30.09 sq.cm.(6.69 col cm)Edelweiss Tokio Lifegets Irda clearanceNew Delhi: Edelweiss Tokio LifeInsurance Co. Ltd has recevied finalapproval from the Insurance Regulatoryand Development Authority (Irda) tooperate In the life Insurance space.The company Is a Joint venturebetween diversified financial servicesconglomerate Edelweiss Group andTokio Marine and Nichido Fire Insurance,one of the world's largest Insurancegroups based in Japan, PTIPage No : 12

Back to IndexFinancial Chronicle - Delhi Friday, 13 May 2011 Page# :3 Size : 64.54 sq.cm. (14.34 col cm)Edelweiss Tokio Life getsclearance for insurance bizSHRUTI VERMA KHAREMumbaiEDELWEISS Tokio Life Lsurance Company has beengranted permission to beginoperations in India. Ed elweiss Tokio life is the latest,entrant in the life insurancespace taking the total numberof private life insurantcompanies to 23 apart froijninsurance giant Life Insuance Corporation,According to a senior officialof the company, the companywill begins operationsand launch insurance productswithin the next threemonths. "The company willfocus on long term savingsand protection needs of theIndian consumers," said acompany official.shrutiverma@mydigitalfc.comPage No : 13

Back to IndexEconomic Times - Hindi - Delhi Friday, 13 May 2011 Page# :7 Size : 40.62 sq.cm. (9.03 col cm)Page No : 14

Back to IndexDNA - Mumbai Friday, 13 May 2011 Page# :11Size : 34.38 sq.cm.(7.64 col cm)• Edelweiss gets clearanceEdelweiss Tokio Life InsuranceCompany Ltd has got finalapproval from the InsuranceRegulatory and DevelopmentAuthority (Irda) to operate in thelife insurance space. The companyplans to launch insurance productsthat will cater to the long-termsavings and protection needs of theconsumers. The company is a jointventure between the EdelweissGroup, diversified financialservices conglomerate, and TokioMarine and Nichido FireInsurance, one of the world'slargest insurance groups based inJapan.Page No : 15

Back to IndexMint - Mumbai Friday, 13 May 2011 Page# :11Size : 30.09 sq.cm.(6.69 col cm)Edelweiss Tokio Lifegets Irda clearanceNew Delhi: Edelweiss Tokio LifeInsurance Co. Ltd has recevied finalapproval from the Insurance Regulatoryand Development Authority (Irda) tooperate In the life Insurance space.The company Is a Joint venturebetween diversified financial servicesconglomerate Edelweiss Group andTokio Marine and Nichido Fire Insurance,one of the world's largest Insurancegroups based in Japan, PTIPage No : 16

Back to IndexFinancial Chronicle - Mumbai Friday, 13 May 2011 Page# :3Size : 80.85 sq.cm.(17.97 col cm)EdelweissTokio Life getsIrda clearanceSHRUTI VERMA KHAREMumbaiEDELWEISS Tokio Life InsuranceCompany has beengranted permission to beginoperations in India. EdelweissTokio life is the latestentrant in the life insurancespace taking the total numberof private life insurancecompanies to 23 apart frominsurance giant Life InsuranceCorporation.According to a senior officialof the company, thecompany will begins operationsand launch insuranceproducts within the nextthree months. The companywill focus on long termsavings and protectionneeds of the Indian consumers,"said a company official.The company plans tobegin operatfbns with aninitial capital of around Rs500 crore.Edelweiss Tokio Life Insuranceis a joint venturebetween Edelweiss Capitaland Japan's Tokio Marineholding 74 per cent and 26per cent stake, respectively.shrutiverma@mydigitalfc.comPage No : 17

Back to IndexDNA - Bangalore Friday, 13 May 2011 Page# :15Size : 36.5 sq.cm. (8.11col cm)• Edelweiss gets clearanceEdelweiss Tokio Life InsuranceCompany Ltd has got finalapproval from the InsuranceRegulatory and DevelopmentAuthority (Irda) to operate in thelife insurance space. The companyplans to launch insurance productsthat will cater to the long-termsavings and protection needs of theconsumers. The company is a jointventure between the EdelweissGroup, diversified financialservices conglomerate, and TokioMarine and Nichido FireInsurance, one of the world'slargest insurance groups based inJapan.Page No : 18

Back to IndexMint - Bangalore Friday, 13 May 2011 Page# :11Size : 30.09 sq.cm.(6.69 col cm)Edelweiss Tokio Lifegets Irda clearanceNew Delhi: Edelweiss Tokio LifeInsurance Co. Ltd has recevied finalapproval from the Insurance Regulatoryand Development Authority (Irda) tooperate In the life Insurance space.The company Is a Joint venturebetween diversified financial servicesconglomerate Edelweiss Group andTokio Marine and Nichido Fire Insurance,one of the world's largest Insurancegroups based in Japan, PTIPage No : 19

Back to IndexFinancial Chronicle - Bangalore Friday, 13 May 2011 Page# :3Size : 80.85 sq.cm.(17.97 col cm)EdelweissTokio Life getsIrda clearanceSHRUTI VERMA KHAREMumbaiEDELWEISS Tokio Life InsuranceCompany has beengranted permission to beginoperations in India. EdelweissTokio life is the latestentrant in the life insurancespace taking the total numberof private life insurancecompanies to 23 apart frominsurance giant Life InsuranceCorporation.According to a senior officialof the company, thecompany will begins operationsand launch insuranceproducts within the nextthree months. The companywill focus on long termsavings and protectionneeds of the Indian consumers,"said a company official.The company plans tobegin operatfbns with aninitial capital of around Rs500 crore.Edelweiss Tokio Life Insuranceis a joint venturebetween Edelweiss Capitaland Japan's Tokio Marineholding 74 per cent and 26per cent stake, respectively.shrutiverma@mydigitalfc.comPage No : 20

Back to IndexHindu - Hyderabad Friday, 13 May 2011 Page# :15 Size : 18.97 sq.cm. (4.22 col cm)Edelweiss Tokio Life gets IRDA clearanceEdelweiss Tokio Life Insurance Company has got final approval from theInsurance Regulatory and Development Authority to operate in the lifeinsurance space.Page No : 21

Back to IndexHindu - Chennai Friday, 13 May 2011 Page# :19 Size : 19.39 sq.cm. (4.31 col cm)Edelweiss Tokio Life gets IRDA clearanceEdelweiss Tokio Life Insurance Company has got final approval from theInsurance Regulatory and Development Authority to operate in the lifeinsurance space.Page No : 22

Back to IndexMint - Chennai Friday, 13 May 2011 Page# :11Size : 30.09 sq.cm.(6.69 col cm)Edelweiss Tokio Lifegets Irda clearanceNew Delhi: Edelweiss Tokio LifeInsurance Co. Ltd has recevied finalapproval from the Insurance Regulatoryand Development Authority (Irda) tooperate In the life Insurance space.The company Is a Joint venturebetween diversified financial servicesconglomerate Edelweiss Group andTokio Marine and Nichido Fire Insurance,one of the world's largest Insurancegroups based in Japan, PTIPage No : 23

Back to IndexFinancial Chronicle - Chennai Friday, 13 May 2011 Page# :3Size : 80.85 sq.cm.(17.97 col cm)EdelweissTokio Life getsIrda clearanceSHRUTI VERMA KHAREMumbaiEDELWEISS Tokio Life InsuranceCompany has beengranted permission to beginoperations in India. EdelweissTokio life is the latestentrant in the life insurancespace taking the total numberof private life insurancecompanies to 23 apart frominsurance giant Life InsuranceCorporation.According to a senior officialof the company, thecompany will begins operationsand launch insuranceproducts within the nextthree months. The companywill focus on long termsavings and protectionneeds of the Indian consumers,"said a company official.The company plans tobegin operatfbns with aninitial capital of around Rs500 crore.Edelweiss Tokio Life Insuranceis a joint venturebetween Edelweiss Capitaland Japan's Tokio Marineholding 74 per cent and 26per cent stake, respectively.shrutiverma@mydigitalfc.comPage No : 24

Back to IndexHindu - Kolkata Friday, 13 May 2011 Page# :11 Size : 21.27 sq.cm. (4.73 col cm)Edelweiss Tokio Life gets IBM clearanceEdelweiss Tokio Lil'e Insurance Company lias got final approval from theInsurance Regulatory and Development Authority, to operate in tile lifeinsurance space.Page No : 25

Back to IndexMint - Kolkata Friday, 13 May 2011 Page# :11Size : 30.09 sq.cm.(6.69 col cm)Edelweiss Tokio Lifegets Irda clearanceNew Delhi: Edelweiss Tokio LifeInsurance Co. Ltd has recevied finalapproval from the Insurance Regulatoryand Development Authority (Irda) tooperate In the life Insurance space.The company Is a Joint venturebetween diversified financial servicesconglomerate Edelweiss Group andTokio Marine and Nichido Fire Insurance,one of the world's largest Insurancegroups based in Japan, PTIPage No : 26

Back to IndexThe Bengal Post - Kolkata Friday, 13 May 2011 Page# :12 Size : 18.65 sq.cm. (4.14 col cm)Edelweiss TokioLife gets Irda nodNew Delhi: Edelweiss TokioLife Insurance Company hasgot the final approval fromthe Insurance Regulatory &Development Authority(Irda) to operate in the liteinsurance space. - PTIPage No : 27