Tata AIG Life Insurance Company Ltd.

Tata AIG Life Insurance Company Ltd.

Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG). Tata AIG Life combines the Tata Group’s pre-eminent leadership position in India and AIG’s global presence as one of the world’s leading international insurance and financial services organization. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent. Tata AIG Life provides insurance solutions to individuals and corporates. Tata AIG Life Insurance Company was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

Tata Group

Tata is a rapidly growing business group based in India with significant international operations. Revenues in 2007-08 are USD 62.5 billion (around Rs. 251,543 crores), of which 61% was from business outside India. The Group’s Net Profit for 2007-08 is USD 5.4 billion (around Rs. 21,578 crores). The Group employs around 350,000 people worldwide. The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics. The business operations of the Tata Group currently encompass seven business sectors - Communications and Information Technology, Engineering, Materials, Services, Energy, Consumer Products and Chemicals. The Group's 28 publicly listed enterprises have a combined market capitalisation of around $60 billion, among the highest among Indian business houses, and a shareholder base of 2.9 million. The major companies in the Group include Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Tea, Indian Hotels, Tata Teleservices and Tata Communications.

American International Group, Inc. (AIG)

American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.

Management

Trevor Bull – Managing Director

Mr. Trevor Bull joined Tata AIG Life as Managing Director in January 2006. Prior to this, Trevor was Senior Vice President and General Manager at American International Assurance in Korea.

Trevor has over 28 years of experience in the life insurance industry and has spent considerable time working in Japan and Britain. His experience covers an array of skills at various authority levels including Director, Regional Executive, Senior Line Management and Project Management. Additionally, Trevor has acquired keen insights into Unit Linked, conventional life and health insurance/ reinsurance and all major products & distribution channels.

A proud father of two boys and one girl, he aligns his hobbies with theirs and connects with them through a game of tennis or football regularly.

Media

If you would like to know more about us, please feel free to peruse the numerous media articles that have appeared about our company over the years.

Micro Insurance

Micro Insurance is the process of delivering and servicing relevant and affordable life insurance products to the low-income socio economic strata. The focus of Tata AIG Life’s Micro insurance program is rural India, where traditionally the far-flung, lower and lower middle-income segments have had limited access to life insurance services.

• How do we operate

• Cost of our plans

• Accolades

• Video Film

• Policies Available

How do we operate?

We operate in 11 states with a specific relationship management team for each state. A dedicated & trained sales and marketing team manages the front end of the Micro insurance program. Our micro insurance distribution model collaborates with NGO’s (Non-governmental organisations) and Rural organizations with community level SHG (Self Help Group) women advisors who provide insurance advisory services to the rural customers at their doorstep. The grassroots level agents explain the product details in the local language of the customer, thereby enabling the customer to make a decision. The training programs, brochures, contract documents, and application forms are available in 8 different languages other than English and Hindi.

Cost of our plans:

Tata AIG Life Micro insurance plans are available with or without survival benefits and with death benefits ranging from Rs.5,000 to Rs.50,000. With premiums as low as Rs.5** per month, there is now an affordable life insurance product for nearly every rural household in India.

** The premium mentioned above is exclusive of Service Tax.

Accolades:

Tata AIG Life’s Micro agent retailing model has also been the subject of a case study report sponsored by ILO/CGAP (International Labour Organisation / Consultative Group to Assist the Poor) and the Munich Re foundation.

Tata AIG Life’s model of livelihood based on Insurance penetration to the landless daily waged agricultural labor in Andhra Pradesh is an ongoing project since August 2003 and was selected for matching funds basis grant funding by DFID (Department for International Development – Govt. of UK).

Video Film (Ujwal Bhavishya):

View our audiovisual communication specially developed for creating Micro Insurance awareness amongst customers and social sector organizations.

Please Note: Viewing the Video requires the Windows Media Player.
Get the Windows Media Player now.

Policies Available:

The following special Micro Insurance products from Tata AIG Life are now available for the rural population at the bottom of the pyramid.

• Tata AIG Life Navkalyan Yojana

• Tata AIG Life Ayushman Yojana

• Tata AIG Life Sampoorn Bima Yojana

• Tata AIG Life Sumangal Bima Yojana

L&T increases Satyam stake to 12%

L&T increases Satyam stake to 12%, no request for open offer

23 Jan 2009, 2111 hrs IST, PTI

NEW DELHI: The government on Friday said it has not received any request from engineering giant Larsen and Toubro for making an 'open offer' to acquire more than 15 per cent stake in the crisis-ridden Satyam Computer Services at current market price.

"We have not received any such proposal," Corporate Affairs Minister Prem Chand Gupta told reporters when asked whether L&T, which has increased its stake in the IT company to 12 per cent by buying shares from the market, has sought permission to make an open offer to acquire more stake in the company.

L&T, which has raised its stake in the crisis-ridden Satyam from about 4 per cent to 12 per cent and emerged as the largest shareholder of the IT company only next to the Life Insurance Corporation (LIC).

As per the Takeover Code of Securities and Exchange Board of India (SEBI), the engineering company will have to make an 'open offer' to buy equity from existing shareholders if it decides to increase its shareholding in the IT company to 15 per cent or more.

'Open offer' gives shareholders a chance to exit the company by selling their stake to a prospective acquirer, in this case L&T.

When asked whether the government would allow L&T to make an open offer at current market price, Gupta said, "That will be seen at the time when it comes to that."

Anybody, he added, "can raise investment up to 14.99 per cent" in a company.

On the question of appointment of senior executives of Satyam, the Minister said, "They (new board of Satyam) must be going through various applications received from different applicants for CEO and CFO. Let them do their work."

The board, he added, "is absolutely competent to take all decisions without any hindrance or interference from the government".

The new board of Satyam met for two days in Hyderabad in its bid to steer the company out of the trouble following disclosures of fudging of accounts by its founder Chairman B Ramalinga Raju.

L&T gets orders worth Rs 1198 crore

23 Jan 2009, 1344 hrs IST, Pradeep Pandey, ET Bureau

MUMBAI: Larsen & Toubro (Oman) LLC, a joint venture between Larsen & Toubro and Zubair Corporation, has secured cumulative orders of Rs 1198 crore in Oman for developing projects in preparation for the second Asian Breach Games to be held there.

The JV will be involved in construction of a hotel, marine apartment buildings, administrative buildings for the games and an athletes' village.

These projects are scheduled to be completed within two years. Engineering, cost and project management consultants for the project are W.S. Atkins, NWS International and Faithful & Gould respectively, L&T said in a statement to the stock exchanges.

At 1:30 pm, L&T stocks were trading 3% down at Rs 643.80 amidst weak sentiments in the Mumbai stock market.

HCL's Expected Strategic Acquisition on Satyam

'We are open to strategic acquisition of Satyam'

Q&A: Vineet Nayar, CEO, hcl technologies

Kirtika Suneja / Mumbai January 24, 2009, 0:12 IST

HCL Technologies posted decent results on the back of a rising rupee. The company recently made a successful bid for UK-based SAP player Axon group too. Kirtika Suneja spoke to Vineet Nayar, CEO of HCL Technologies, on the future course of action in the backdrop of a global slowdown. Excerpts:

What will be the company’s future growth strategy?
In this environment, we will capitalise on all our strengths — both employees and management — to accelerate growth. We have three tailwinds that are the positives for us — namely the many orders that we are seeing, the number of outsourcing requests for proposal (RFPs) out in the market and the amount of vendor consolidation taking place.

How has the Axon acquisition figured in this quarter’s results?
We have added 2,000 Axon employees and the revenue from the company was Rs 86.7 crore for the period December 16 to 31. Axon would shave off 3 per cent from the company’s margins for the next four quarters.

Any plans for acquiring Satyam?
When the firm decides what to do, we will evaluate it. But we are open only to a strategic acquisition.

What is the company’s strategy regarding Satyam’s employees and clients?
Regarding clients, I can say that everybody is talking to everybody, that is every customer is talking to every vendor and vice versa. Anyway, the client overlap is very little between Satyam and HCL. As for Satyam employees, we will welcome them with open arms with all humility as they are a part of a high performance team.

What steps have you taken on the corporate governance front?
We have new corporate governance initiatives in place. We have set up a succession committee which will be headed by Shiv Nadar. There will be two independent directors along with me in the committee. Right now, there are 26 corporate officers who are selected by the board.

The succession committee will plan the next layer of corporate officers as the company increases in size and changes shape. The company is also getting into twin audits of our key assets of cash, cash equivalents and receivables.

All-Time Highs

08 Jul 07 Right Time for Investing in the Stock Market? SENSEX to cross 50000 mark by 2020!

Nifty and Sensex touched all-time highs last week. Indian companies are rushing in to tap the capital markets and raise funds. The price of crude is rising. Interest rates have risen tremendously. Looking at the various macro economic indicators, one wonders if this is the right time for investing in the stock market. Will there be enough liquidity in the system to lap up the new public issues? Do rising crude prices and rising interest rates signal the end of the bull run? No, says Morgan Stanley.

Morgan Stanley believes SENSEX will touch 50,000 by 2020. Most people would laugh this out. At the moment a target of 50000 for the Sensex seems impossible. I had the same feeling a few years back when I saw an interview of Rakesh Jhunjhunwala on CNBC predicting a target of 12000-15000 for the SENSEX when the SENSEX was below 6000. Everybody including the anchor of the show laughed it out thinking Jhunjhunwala was just trying to be humorous. But he wasn’t. He was damn serious. Last week the SENSEX reached his target of 15000. When SENSEX first hit the 12000 mark, Jhunjhunwala revised his target to 25000. Now Morgan Stanley has indicated a target of 50000 for the SENSEX. If Indian companies continue to grow at the pace they are presently growing at, SENSEX will cross 50000 much sooner than 2020. My top 3 picks continue to remain

1. Larsen & Toubro

2. BHEL (and)

3. IVRCL Infrastructures