ING Vysya Life Insurance Company Ltd is eyeing 25 per cent share from pension and retirement coverage premiums with the launch of 'ING Golden Life'-unit linked insurance program (ULIP)-based retirement plans.

Company anticipates around Rs2 75 crore of insurance premium from retirement programs in 2008. "Company is looking at Rs 1100 crore new concern income in the calendar twelvemonth 2008. Out of which insurance premium from retirement programs is expected to lend 25 per cent out of the total," said director-business development, YVDV Prasad, ING Vysya Life Insurance Company Ltd.

The company collected around Rs 40 crore from debt-based retirement program 'Best Year's' and managed to give 9.5 per cent tax return in the last year. It collected Rs953.75 crore insurance premium in calendar twelvemonth 2007.

"ULIP-based retirement programs represents 99 per cent of entire retirement insurance premium collected, and that's wherefore we decided to establish our first ULIP based retirement program -'ING Golden Life'," the manager said.

Retirement coverage insurance premium is expected to turn at over 100 per cent for the adjacent three to four years, as incursion degree is still very low, said Prasad. Premium aggregation from pension and retirement programs word forms 28 per cent of the sum coverage premium aggregations in the insurance industry and have grown at CAGR of 262 per cent in the last four years.

Total insurance premium aggregation from retirement program in 2007 stood at Rs 20,922 crore.

Under licence from

Kolkata, March 4: ING Vysya Life Insurance Company will inculcate Rs 125 crore as working capital by the current fiscal year, a company's top functionary said on Tuesday.

ING Vysya Life Director (Business Development) Yttrium Volt Vitamin D Volt Prasad told newsmen that the present working capital alkali of the company was Rs 790 crore.

The company launched unit-linked retirement solution plan, a long-term program with the option to put in debt, equity and liquid instruments.

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