Page 125 - DMGT512_FINANCIAL_INSTITUTIONS_AND_SERVICES

Financial Institutions and Services

Notes IDBI Fortis Life Insurance Co. Ltd.

IDBI Fortis Life Insurance Co. Ltd. is a joint venture between three leading financial
conglomerates - India's premier development and commercial bank, IDBI, India's leading private
sector bank, Federal Bank and Europe's premier Bancassurer, Fortis, each of which enjoys a
significant status in their respective business segments. In this venture, IDBI owns 48% equity
while Federal Bank and Fortis own 26% equity each.

IDBI Fortis launched its first set of products across India in March 2008, after receiving the
requisite approvals from the Insurance Regulatory Development Authority (IRDA). Today, the
group offers its services through a vast nationwide network across the branches of IDBI Bank
and Federal Bank in addition to a sizeable network of advisors and partners.
IDBI Bank Ltd. is India's premier industrial development bank. Created in 1956 to support
India's industrial backbone, IDBI Bank has since evolved into a powerhouse of industrial and
retail finance. Today, it is amongst India's foremost commercial banks, with a wide range of
innovative products and services, serving retail and corporate customers in all corners of the
country from over 538 branches and more than 921 ATMs.

Federal Bank is one of India's leading private sector banks, with a dominant presence in the state
of Kerala. It has a strong network of over 600 branches and 600 ATMs spread across India. The
bank provides over four million retail customers with a wide variety of financial products.
Federal Bank is one of the first large Indian banks to have an entirely automated and
interconnected branch network.

Fortis is an international insurance group composed of Insurance Belgium, a leader in life and
non-life insurance in Belgium distributing its insurance products through the network of Fortis
Bank and independent insurance brokers and Insurance International with subsidiaries in the
UK, France, Hong Kong, Luxembourg (Non-life), Germany, Turkey, Russia and Ukraine, and
joint ventures in Luxembourg (Life), Portugal, China, Malaysia, Thailand and India.
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Canara HSBC Life, is popular for providing its customers simplicity and excellence. The
shareholding pattern of the Joint Venture is as follows - Canara Bank holds 51% equity, HSBC
Insurance (Asia Pacific) Holdings Ltd 26% and Oriental Bank of Commerce 23%. The Venture has
an initial paid up capital of INR 325 crores which will further increase in line. The Company
commenced business 16th of June, 2008 after receiving requisite approvals from the Insurance
Regulatory Development Authority (IRDA).

AEGON Religare Life Insurance Company Limited

AEGON, one of the world's largest life insurance and pension groups, Religare, one of India's
leading integrated financial services groups and Bennett, Coleman & company, India's largest
media house, have come together to launch AEGON Religare Life Insurance Company Limited.
The business philosophy is to help people plan their life better. In an industry first, AEGON
Religare Life Insurance offers policy servicing on the phone via Interactive Voice Response
System (IVR) by issuing the customer a T-Pin for authentication. It is also the first company to
include the customer's medical report in the policy kit.
AEGON's businesses serve over 40 million customers in over 20 markets throughout the Americas,
Europe and Asia, with major operations in the United States, the Netherlands and the United
Kingdom. With headquarters in The Hague, the Netherlands, AEGON companies employ almost
32,000 people worldwide. The company's common shares are listed on four stock exchanges:
Amsterdam, London, New York and Tokyo.

120 LOVELY PROFESSIONAL UNIVERSITY