IDBI Federal Life Insurance Co New Sohel

7/27/2019 IDBI Federal Life Insurance Co New Sohel

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IDBI Federal Life Insurance Co. Ltd.

IDBI Federal Life Insurance Co. Ltd.,(formerly IDBI Fortis Life Insurance) is a jointventure between three financial companies – development and commercial bank, IDBIBank, India’s private sector bank, Federal Bank and Europeaninsurer Ageas (formerly Fortis), which was formed on March 2008. In this venture, IDBIBank owns 48% equity while Federal Bank and Ageas own 26% equity each.

About the sponsors of IDBI Federal Life Insurance Co Ltd

• IDBI Bank Ltd.

IDBI Bank Ltd. continues to be, since its inception, India’s premier industrialdevelopment bank. It came into being as on July 01, 1964 (under the Companies Act,1956) to support India’s industrial backbone. Today, it is amongst India’s foremostcommercial banks, with a wide range of innovative products and services, serving retailand corporate customers in all corners of the country from 1082 branches and 1715

ATMs. The Bank offers its customers an extensive range of diversified servicesincluding project financing, term lending, working capital facilities, lease finance, venturecapital, loan syndication, corporate advisory services and legal and technical advisoryservices to its corporate clients as well as mortgages and personal loans to its retail

clients. As part of its development activities, IDBI Bank has been instrumental insponsoring the development of key institutions involved in India’s financial sector –National Stock Exchange of India Limited (NSE) and National Securities Depository Ltd,SHCIL (Stock Holding Corporation of India Ltd), CARE (Credit Analysis and ResearchLtd).

• Federal Bank

Federal Bank is one of India’s leading private sector banks, with a dominantpresence in the state of Kerala. It has a strong network of over 1107 branches and 1231

ATMs spread across India. The bank provides over four million retail customers with awide variety of financial products. Federal Bank is one of the first large Indian banks tohave an entirely automated and interconnected branch network. In addition tointerconnected branches and ATMs, the Bank has a wide range of services like InternetBanking, Mobile Banking, Tele Banking, Any Where Banking, debit cards, online billpayment and call centre facilities to offer round the clock banking convenience to its



customers. The Bank has been a pioneer in providing innovative technological solutionsto its customers and the Bank has won several awards and recommendations.

• Ageas

Ageas is an international insurance group with a heritage spanning more than 180years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen toconcentrate its business activities in Europe and Asia, which together make up thelargest share of the global insurance market. These are grouped around four segments:Belgium, United Kingdom, Continental Europe and Asia and served through acombination of wholly owned subsidiaries and partnerships with strong financialinstitutions and key distributors around the world. Ageas operates successfulpartnerships in Belgium, UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia,India and Thailand and has subsidiaries in France, Hong Kong and UK. Ageas is themarket leader in Belgium for individual life and employee benefits, as well as a leadingnon-life player through AG Insurance. In the UK, Ageas has a strong presence as thefourth largest player in private car insurance and the over 50's market. Ageas employsmore than 13,000 people and has annual inflows of more than EUR 21 billion.

PRODUCT

At IDBI Federal, it’s our constant endeavor to create innovations that create value for

our customers. These innovations are brought to life through our wide array of products

that fit the varying financial and investment needs at different stages of life. They

provide following insurance:

• WEALTHSURANCE: The Wealthsurance Milestone Plan enables thepolicyholder to save and build wealth to meet their financial goals. This Plancomes with a wide range of 13 investment options and 7 insurance benefits - allpackaged with a low charge structure and unmatched flexibility.

• HOMESURANCE: IDBI Federal Homesurance Protection Plan provides full

insurance cover for properties even under construction, thus ensuring that thebeneficiary gets the full sanctioned amount in case of any unfortunate event. Italso has an innovative fixed period cover for those who would aim to prepay theirloans early.



• BONDSURANCE: Bondsurance is designed for customers looking forguaranteed returns which will not get affected by financial market conditions. Itoffers guaranteed return on investment along with life insurance cover.

• MICROSURANCE: IDBI Federal Microsurance Plan is a one of its kind insuranceplan which can be very useful for various Micro Financial Institutions and NGOs,

wherein not only the members but even the member’s family gets an insu rancecover.

• TERMSURANCE: IDBI Federal Termsurance Protection Plan offers the uniqueIncreasing Cover option that automatically increases the cover every year withoutincreasing the premium.

• INCOMESURANCE: Knowing the customer helped us to combine the

Endowment & Money Back plans into a single plan. It linked the returns to the G-

Sec rates, transparently declared by the government. Also, the Guaranteed

Annual Payout and other benefits upon death are tax-free under Sec 10(10D)

MARKET SHARE

IDBI Federal Life Insurance provide it service from 2008 which is very oldest than other

insurance companies. But still IDBI Federal Life Insurance has 2.86% market of Life

Insurance and 0.98% market share of insurance in India.



AGEAS AT WORLD :

Ageas operates successful partnerships in Belgium, UK, Luxembourg, Italy, Portugal,

Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong

and UK. Ageas is the market leader in Belgium for individual life and employee benefits,

as well as a leading non-life player

through AG Insurance. In the UK, Ageas has a strong presence as the fourth largest

player in private car insurance and the over 50's marke

TRADE RELATIONS WITH THAT COUNTRY AND OTHER COMPANIES OF THAT

COUNTRY

COMPETITOR IN INDIA

• Bajaj Allianz Insurance Limited

• Birla Sun Life Insurance Co. Ltd

• HDFC Standard Life Insurance Co. Ltd

• ICICI Prudential Life Insurance Co. Ltd

• ING Vysya Life Insurance Company Ltd



• Life Insurance Corporation of India

• Max Life Insurance Co Ltd

• PNB Metlife Insurance Co. Ltd

• Kotak Mahindra Old Mutual Life Insurance Limited

• SBI Life Insurance Co. Ltd

• Tata AIA Life Insurance Company Limited

• Aviva Life Insurance Company India Limited

• Sahara India Life Insurance Co. Ltd

• Shriram Life Insurance Co. Ltd

• Bharti AXA Life Insurance Company Ltd.

• Star Union Dai-ichi Life Insurance Co. Ltd

Country to Country Relation

• Diplomatic relations between India and Belgium were established in 1948 and

our bilateral relations are cordial and friendly. In recent times, Belgium has

acknowledged the growing importance of Asia and has emphasized the value of

strengthening economic relations with India.

• Economic and Trade Relations-

Belgium has emerged as one of India’s important trading partner s in the EU.

Trade in gems and jewelry constitutes over 75% of the bilateral trade. India’s IT

sector is well represented in Belgium, with all the big IT companies having their



establishments. Several Indian companies in the chemicals sector have also

established offices/warehousing facilities in Belgium, particularly near the port

city of Antwerp. Belgian business interests in India cover energy, ports, dredging,

construction, banking and finance, electronics and software, chemicals and

fertilizers, solar energy and biotechnology.

• Bilateral Investment-

Belgium has emerged as the 23rd largest investor in India worldwide and the 9th

largest within the EU but the total FDI in India from Belgium is still relatively

small. A cumulative figure of FDI inflows from Belgium into India amounts to US $

327.84 million from April 2000 to April 2010. In the recent past, Indian investment

in Belgium has exceeded investment by Belgian firms in India mainly through

several takeovers of Belgian firms by Indian companies. Several Indian

companies particularly in the IT and software sector have established base in

Belgium to cater to Belgian as well as the European market.

FUTURE PLANS AND ALL OTHER POINTS DEPENDING UPON SECTOR AND

COMPANY.

Their future plan is shown in their mission it self i.e. ‘To be the leading provider of

wealth management, protection and retirement solutions that meets the needs of our

customers and adds value to their lives.’. they plan to expand business in India and

nearer Asian small country like Pakistan, Shrilanka, Kazakhstan etc in 2015.

Documents

IDBI Federal Life Insurance Co New Sohel