Kolkata: ING Vysya Life Insurance would shore up capital base by another Rs 150 crore by the end of March 2008, a company official said on Tuesday.
Rajeev Kanal, Associate Vice-President (product development) of ING Vysya Life told reporters here that the capital base at the end of October 2007 stood at Rs 790 crore.
Launching ING Creating Star Education Guarantee Plan child policy, Kanal said that the company has 13 traditional products and seven unit linked ones.
From the child policy, the company aims to sell 50,000 policies and earn a premium income of Rs 30 crore to Rs 40 crore in the first year.
By December 2007, ING Vysya is aiming at a premium income of Rs 1068 crore, out of which Rs 635 crore would come from new policies. Last year, the company earned a premium income of Rs 613 crore.
Traditional products contribute 20 per cent of the company's total premium income, the balance comes from unit linked products.
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