Aviva Life Insurance

Aviva Life Insurance Company is a joint venture between Dabur Invest Corporation and Aviva Group. Aviva is a global player in Insurance sector present in 16 countries having customer base of 31 million.

Products Offered by Life Insurance

• Term Insurance Plan

  1. Maturity Age is 70 years
  2. Maximum Policy Duration is 30 years
  3. Maximum Age of Policy Holder is 70 years

• Child Insurance Plan

  1. Maturity Age is 60 years
  2. Maximum Policy Duration is 30 years
  3. Maximum Age of Policy Holder is 60 years while Child is 17 years

• Savings Plan

  1. Maturity Age is 70 years
  2. Maximum Policy Duration is 25 years
  3. Maximum Age of Policy Holder is 55 years

• Retirement Plan

  1. Maturity Age is 75 years
  2. Maximum Policy Duration is 75 years
  3. Maximum Age of Policy Holder is 65 years

• Endowment Plan

  1. Maturity Age is 75 years
  2. Maximum Policy Duration is 30 years
  3. Maximum Age of Policy Holder is 50 years

• Group Plan

  1. Maximum Age of Policy Holder is 69 years

Other plans offered are into Health, Savings, Rural, Gratuity etc.

Financials

• Total Premium collected in 2016-17: INR 1,336 crore
  • First Year Premiums Collection: INR 312 crore
  • Renewal Premiums Collection: INR 1,172 crore
  • Single Premiums Collection: INR 8.6 crore
• Total Commission Paid: INR 35 crore
• Earning per equity share: 0.04
• Expenses on:
  • Employee Salary and Perks: INR 45.9 crore
  • Marketing: INR 15.5 crores
  • Claims made: INR 53 crore
• Ownership/ Stake: Dabur: Aviva = 51%:49% with 1.0 Billion shares: 0.98 Billion shares respectively
• Maximum Presence is in Bihar

Key People

• Mr. Trevor Bull (CEO & MD)
• Mr. Sanjeeb Kumar (Appointed Actuary)
• Mr. Karni S. Arha (CFO)
• Mr. Prashant Sharma (CIO)
• Mrs. Anjali Malhotra (CCO,CMO,CDO)

Overall the company if one of the oldest ones and providing good protection and investment plans to consumers.