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Indian Financial System




                    Notes              (AIG). Tata AIG General combines the Tata Group's pre-eminent leadership position in
                                       India and AIG's global presence as 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 percent. Tata AIG General Insurance Company, which
                                       started its operations in India on January 22, 2001, offers complete range of general insurance
                                       for motor, home, accident & health, travel, energy, marine, property and casualty, liability
                                       as well as several specialized financial line.
                                   10.  United India Insurance Co. Ltd.: UI is a leading General Insurance Company with more
                                       than three decades of experience in non-life Insurance business. Formed by the merger of
                                       22  companies consequent to nationalisation of General  Insurance, it head quarters at
                                       Chennai. Its corporate mission is to provide insurance protection to all, to ensure customer
                                       satisfaction, to function on sound business principles and to help minimise national waste
                                       and to help develop the Indian economy
                                   11.  Cholamandalam MS  General Insurance:  It is a joint venture between the  Murugappa
                                       Group and Mitsui Sumitomo Insurance Group.
                                       The Murugappa Group, headquartered in Chennai, India. It has 29 companies under its
                                       umbrella, of which eight are listed and actively traded on the National Stock Exchange
                                       and the  Bombay Stock  Exchange. With 40 units  spread across  12 states  in India,  the
                                       Murugappa Group is one of India's oldest business houses. It has a presence in the UK, the
                                       USA, Australia, Canada, South Africa, UAE, Thailand, and China.
                                       Mitsui Sumitomo Insurance Group is one of the largest insurance groups in the world.
                                       Today the group operates in non-life insurance, life insurance, financial services and risk
                                       management services.

                                   12.  HDFC ERGO General Insurance Co. Ltd.: HDFC ERGO General Insurance Company Limited
                                       is a 74:26 joint venture between HDFC Limited, India's premier Housing Finance Institution
                                       & ERGO International AG, the primary insurance entity of Munich Re Group.
                                       HDFC ERGO focuses on providing the "Right Insurance Solution"  for all.  they offer a
                                       complete range of general insurance products ranging from Motor, Health, Travel, Home
                                       and Personal Accident in the retail space and customized products like Property, Marine
                                       and Liability Insurance in the corporate space.
                                       HDFC ERGO has been expanding its presence across the country and is present across 46
                                       cities with 52 branch offices. The company has a right balance of distribution channel
                                       comprising of Dealerships, Brokers, Retail and Corporate Agents, Bancassurance and Direct
                                       Sales Team.
                                   13.  Star Health and Allied Insurance Company Limited: It works with a mission of ultimate
                                       Customer Satisfaction and provide healthcare options.
                                   14.  Apollo DKV Insurance Company  Limited:  Committed to bring world class health care
                                       within the reach of every individual, Apollo Hospitals Group has joined hands with DKV,
                                       a world leader in the field of health insurance. The joint venture is poised to make good
                                       the conviction of both the partners that Indian health insurance market is on the brink of
                                       explosive growth.
                                       Apart from the above discussed organisations, there are several other players like Export
                                       Credit Guarantee Corporation of India Ltd, Agriculture Insurance Co. of India Ltd., Future
                                       Generali India Insurance Company Limited, Universal Sompo General Insurance Co. Ltd.,
                                       Shriram General Insurance Company Limited, Bharti AXA General Insurance Company





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