DUBAI, United Arab Emirates--(BUSINESS WIRE)--Tata AIA Life Insurance (Tata AIA), one of India’s leading Life Insurance Companies, today announced the opening of its first representative office in Dubai, UAE.
The rep office will help Tata AIA assess the needs of the Indian diaspora in the UAE. Currently the company services over 2.3 million consumers in India through its 391 digital first branches.
Commenting on the launch, Venky Iyer, President & Chief Distribution Officer, Tata AIA Life, added, “Our core philosophy is to enable consumers with the best and simplest life and health insurance solutions that are in sync with their needs and life goals. This representative office will help us to further understand consumer needs and innovate on our solutions and services.”
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. For the financial year 2021-22, the total premium income of Tata AIA Life increased to INR 14,445Cr., a growth of 30%. For the same period, the Company registered a Retail New Business Weighted Premium of INR 4,455 Cr. The 13th month persistency of the Company was at 87.8%, and the Individual Death Claims Settlement ratio was at 98.53%. One of the fastest growing companies in the Life Insurance sector, Tata AIA Life maintained its rank no. 5, based on Individual Weighted New Business Premium.
