10 february 2002

tata aig insurance to tap rural market
bangalore: tata aig life insurance company is planning to launch a life insurance product for the rural market by march this year. the product will be introduced in tamil nadu.

the product has already been designed and developed and the company is currently in the process of training agents.

tata aig has tied up with the bridge foundation (tbf), a bangalore-based ngo engaged in micro enterprise development, to help create insurance awareness in the rural sector.

through its rural credit programme, the bridge foundation has already disbursed micro loans to the tune of rs 95.5 lakh to 18,215 households across 1,540 villages in the country during the last fiscal.

9 february 2002

uti pares stake in icici to 6.11%
mumbai: the unit trust of india (uti) has reduced its share holding in icici by more than 12 lakh shares from 6.27 per cent to 6.11 per cent during september 2001 to january 2002.

during the same period, emerging market growth fund inc increased its holding by 13.82 lakh shares from 1.69 per cent to 1.87 per cent. from december 2001 to january 2002, the fund hiked its stake marginally to 1.87 per cent from 1.76 per cent.

mutual funds collectively have reduced their holding in icici to 0.80 per cent in january 2002, down from 1.26 per cent in september 2001.

peerless mulls deal with hdfc standard life
kolkata: peerless general finance & investment is planning to come up with deposit schemes having life insurance cover from hdfc standard life.

peerless has launched multi protector, a 3-year fixed deposit scheme with accidental death and critical illness cover from iffco tokio general insurance.

peerless has decided to invest 90% of its funds in government securities to ensure safety of depositors money.