Maruti insures more than two million vehicles
By Our Corporate Bureau | 05 Dec 2005
New Delhi: Maruti Udyog has crossed the two million vehicles mark with its motor insurance policy through 'Maruti Insurance', generating approximately Rs1,600 crore of premium income for its different insurance partners.
Company officials said, "The average premium for the company comes to a little more than Rs8,000. On this basis the premium income generated for different insurance partners could be over Rs1,600 crore."
The Maruti Insurance scheme, which was launched three years ago, raked in one million customers in the first two and half years.
According to the officials, 85 per cent of new Maruti car buyers opt for Maruti Insurance which helped the insurance grow over 100 per cent this fiscal.
Maruti's insurance partners include National Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, New India Assurance Company Limited and Royal Sundram Alliance Insurance Company Limited.