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IndiaFirst Life Insurance

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IndiaFirst Life Insurance is one of the youngest life insurance companies in India with a rich legacy of over 360 years of combined service of its promoters - Bank of Baroda, Andhra Bank and Legal & General.

This joint venture brings together a real understanding of the Indian consumers by the promoter banks with international best practices developed by Legal & General. Shri. Pranab Mukherjee, Honorable Finance Minister, Government of India launched our nationwide operations in Delhi in March, 2010 Headquartered in Mumbai, with a capital base of Rs. 605 crore. Bank of Baroda holds a 44 per cent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 per cent and 26 per cent stake respectively.

IndiaFirst have already achieved substantial progress during our first year of operation. IndiaFirst set up new benchmarks in bancassurance in terms of branch activisation, productivity and customer friendly sales processes. IndiaFirst aim to place our customers 'First' in everything IndiaFirst do and believe .IndiaFirst can differentiate ourselves through simple, easy to understand products, fair price, high quality service and honest advice.

IndiaFirst have initially focused on the bancassurance model leveraging the existing branch network of over 4,800 branches of our promoter banks across the country. IndiaFirst plan to further strengthen our distribution reach through our alternate channel of distribution. This combination of domain expertise, customer knowledge, product innovation and nationwide reach has helped us cross the Rs. 900 crore mark in new business premium within 500 days of our operations and cover over 1.2 million lives across more than 1000 cities and towns in India.

Our product range covers the typical needs of protection (term insurance), savings, education, retirement and health. IndiaFirst also have a wide range of group insurance products ranging from credit life, term and employee liability (gratuity and leave encashment) plans. IndiaFirst will follow this with a whole range of pension and wealth accumulation plans shortly.

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