Aegon Religare plans to infuse Rs 320-cr by March 11

Private life insurer, Aegon Religare,

plans to infuse Rs 320-crore into its operations by end-this

fiscal, a top company official said today.

"We have (so far) infused Rs 700-crore and will infuse

about Rs 320-crore by the end of this financial year, taking

the total to Rs 1,020-crore," Aegon Religare Life Insurance's

Chief Marketing Officer, Yateesh Srivastava, told reporters

here.

"The company, a pioneer in online insurance, has set a

total premium collection target of Rs 500-crore by FY 11. We

are eyeing Rs 20-crore through online (iTerm)," he said.

"We have set a total premium collection target of Rs

500-crore for this fiscal. From iTerm (online), we have

already achieved a premium collection of Rs 7.5-crore and are

eyeing another Rs 12.5-crore by March 2011," Srivastava said.

The company is also targeting a sale of 25,000 iTerm

policies by end-FY 11, he said, adding that it has already

sold 10,000 policies. The total policy sale target is two-lakh

by the end of this fiscal, he said.

Aegon Religare, which started operations in August 2008,

has set a break-even target by 2016, he said. Aegon Religare

is a three-way joint venture between Hague-based international

life insurance pension and investment company, Aegon,

financial services group Religare and media house Bennett,

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