Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance Company Ltd
Private company
Industry Finance
Founded 2011[1]
Headquarters Mumbai, India
Area served
 India
Key people
 Mr. Deepak Mittal, Mr.Yash Mohan Prasad, Mr. Nilesh Parmar
Products Insurance[2]
Website www.edelweisstokio.in

Established in the year 2011, Edelweiss Tokio Life Insurance Company Ltd is a new age life Insurance company[3] in India. It is a joint venture between Edelweiss, a diversified financial services conglomerate in India, and Tokio Marine, one of the oldest life insurance companies in Japan.

Currently, Tokio Marine owns 26% stake in the joint venture, but it received approval in January 2016 from the Insurance Regulatory Authority of India (IRDAI) to increase its stake to 49%.[4]

History

Edelweiss Tokio Life Insurance began operations in July 2011 after receiving its registration certificate from IRDAI in May 2011[5] and one out of 24 life insurance companies in India.[6] Today, it has a PAN India presence with more than 60 branches[7] and 1,500 employees and looking consistent growth.[8]

Edelweiss Tokio Life offered life insurance cover of Rs 1 crore[9] for all the athletes representing India at the Rio Olympics 2016

Awards

Morningstar, a global leader in rating fund performance across mutual funds and ULIP’s, rated all of Edelweiss Tokio Life Insurance Funds as 5 stars.[10]

Products

Edelweiss Tokio Life Insurance offers more than 20 products to cater to retirement, education, critical illness and income replacement needs. It offers products in both the digital as well as offline space. It's product portfolio includes endowment plans, term plans, ULIP's and critical illness plans. Apart from individual plans, it also offers group protection plans.

· MyLife+ is the online term plan

· Wealth Builder is the online endowment plan

· Wealth Accumulation(Accelerated Cover) is a Unit Linked Insurance Plan(ULIP) offered online

· CritiCare+ is the critical illness plan offered online

· Edusave is the children’s education plan

· Retirement plans – Pension plans, annuity plans designed for financial security post-retirement

· Group protection plans – For group protection of corporates, small and medium-sized organizations

References

  1. ↑ Products by Edelweiss Tokio life Insurance Regulatory and Development Authority, (IRDA) website.
  2. ↑ Edelweiss Tokio sparks term cover war The Times of India
  3. ↑ "Edelweiss Tokio: Customised humour". November 8, 2012 – via afaqs.com.
  4. ↑ "Edelweiss Tokio receives Irdai approval to raise foreign stake". 29 January 2016 – via Business Standard.
  5. ↑ "Edelweiss Tokio Life Insurance gets Irda registration". Business Standard. May 13, 2011. Retrieved August 6, 2016.
  6. ↑ "List of life insurer in India "Edelweiss on IRDA"". Retrieved Aug 10, 2016.
  7. ↑ http://www.thehindubusinessline.com/money-and-banking/edelweiss-tokio-life-eyes-75-branches-by-2015/article2548726.ece
  8. ↑ "Edelweiss Tokio Life looking at 40-50% growth this fiscal". September 2, 2015 – via thehindubusinessline.com.
  9. ↑ "Edelweiss Tokio Life offers life cover of Rs 1 crore to athletes representing India at Olympics". April 23, 2016 – via zeenews.india.com.
  10. ↑ "Morningstar rates all of Edelweiss Tokio Life Insurance's funds 5 Stars". 31 October 2015 – via India Blooms.

External links

This article is issued from Wikipedia - version of the 12/4/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.