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Showing posts from March, 2017

ICRA assigns iAAA rating to Tata AIG General Insurance

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Mumbai, March 30, 2017:  TATA AIG General Insurance Company Limited, one of India’s leading private sector General Insurance Company has been conferred the ‘iAAA’ rating (pronounced as I triple A) for their Claims Paying Ability by the rating agency ICRA. The ‘iAAA’ rating is the highest for claims paying ability for an insurance company in the industry.  The ratings indicate TATA AIG’s fundamentally strong position in the market and that the prospect of meeting policyholder obligations is best. The rating takes into account the parentage of TATA AIG as well as, the strong commitment of both the partners – the Tata Sons Ltd and AIG. The rating factors in, TATA AIG’s strong presence in niche segment like travel, liability and marine cargo insurance. Moreover, the company has also established moderate underwriting profitability indicators, reinsurance and product development and higher share of commercial business in the product mix. Commenting on this achievement, Neelesh Garg, MD &

Future Generali India Life Insurance launches Future Generali Big Income Multiplier Plan

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Future Generali India Life Insurance Company Limited (FGILI) ha s announced the launch of yet another product in its portfolio of simple to understand and easy to buy products – Future Generali Big Income Multiplier Plan. It is a simple, non-linked, non-participating plan with guaranteed returns which increase over the payout period. In this product, one can start investing with a minimum premium of Rs 18,000 annually or Rs. 1,500 per month for a fixed period of 12 years. Customers would enjoy an insurance cover till the 14 th year after which the payout period commences. Payouts of 1.5x, 2x and 2.5x over 3 evenly distributed blocks of 4 years each are made to customers over a total period of 12 years . The total benfit paid to customers is two times the total premiums paid under the policy. Eligibility Premium Frequency Annual Monthly Entry Age (as on last birthday) Minimum: 4 years Maximum: 50 years Maturity Age Minimum: 18 years Maximum: 64 years Premium payable Minimum: Rs.18,0