RPS1.2BN CAPITAL BOOST PLANNED FOR AEGON’S INDIAN JV

AEGON’S Indian life insurance joint venture is planning a Rps1.2bn capital boost this year. Aegon Religare Life Insurance was set up in August last year as a three-way joint venture between the Dutch insurance giant Aegon, Religare Enterprises, and Bennett and Coleman. It currently boasts a paid-up capital of Rps2.5bn and hopes to achieve premium income for its first year of operation of Rps1bn. The capital boost will help fund the company’s ambition of recruiting 3,300 agents over the next six months, local reports suggest.