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Oct 15, 2008

IDBI Opened Brance At Xcut Road

IDBI Fortis Life Insurance has opened a branch on cross cut road at Coimbatore as part of its plan to have 100 branches in the country. It is a joint venture between IDBI, Federal Bank and European banking and insurance giant Fortis. The company launched its operations in March this year, starting with its innovative concept ‘Wealthsurance.’ It plans to have 6 branches in Tamil Nadu and 24 branches across the south.

A company release said that it has collected a premium of over Rs 100 crore in five months, thus becoming the fastest growing player in the private sector. With increasing income levels, more number of people want to grow their money rather than saving it. “The company has unique wealth-building products to help their money grow by protecting it from unforeseen circumstances,” said IDBI Fortis MD & CEO GV Nageswara Rao.

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