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Unit 8: Insurance Sector

Aviva is also keen to reach out to the underprivileged that have not had access to insurance so Notes
far. Through its association with Basix (a micro financial institution) and other NGOs, it has been
able to reach the weaker sections of the society and provide life insurance to them.

Sahara India Life Insurance Company Ltd. (SILICL)

Sahara India Life Insurance Company Ltd. (SILICL) is today the first wholly Indian-owned Life
Insurance Company in the private sector. They launched the operations on 30th October 2004
after being granted license to operate as a life insurer in India by Insurance Regulatory and
Development Authority on 6 February 2004 .

Shriram Life Insurance Company

Shriram Life Insurance Company is the joint venture between the Shriram Group and the Sanlam
Group.
The Shriram Group is one of the largest and well-respected financial services conglomerates in
India. The Group's main line of activities in financial services include chit fund, truck financing,
consumer durable financing, stock broking, insurance broking and life insurance.
Sanlam Life Insurance Limited, a part of the Sanlam Group, is one of the largest providers of life
insurance in South Africa with 3.2 million individual policies under administration. It has a
significant presence across South Africa, United Kingdom and Namibia and is a major provider
of life insurance, retirement annuities, saving and investment products, personal loans, home
loans and trust services to individuals.

Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one of India's leading business
groups with interests in telecom, agri business and retail, and AXA, world leader in financial
protection and wealth management. The joint venture company has a 74% stake from Bharti and
26% stake of AXA.
The company launched national operations in December 2006. Today, Their business philosophy
is built around the promise of making people "Life Confident".

Future Generali

Future Generali is a joint venture between the India-based Future Group and the Italy-based
Generali Group. Future Generali is present in India in both the Life and Non-Life businesses as
Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

Future Group is one of India's leading business houses with multiple businesses spanning
across the consumption space. While retail forms the core business activity of Future Group,
group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment,
brand development, retail real estate development, retail media and logistics.
Established in Trieste on December 26, 1831, Generali is an international group present in more
than 40 countries with insurance companies and companies mostly operating in the financial
and real estate sectors. Over the years, the Generali Group has reconstructed a significant presence
in Central Eastern Europe and has started to develop business in the principal markets of the Far
East, including China and India.

LOVELY PROFESSIONAL UNIVERSITY 119