AEGON Religare Life Insurance today announced a strategic business partnership with the

Chennai-based conglomerate T S Mahalingam & Sons (TSM), making it a total of three such alliances in South India. The partnership with TSM will help AEGON Religare Life Insurance strengthen its foothold in southern India. The company will have an access to over 250,000 potential customers across South India with this tie-up.

T S Mahalingam & Sons is one of the largest car dealership in South India with businesses in financial services and real estate operating in Chennai, Bangalore, Coimbatore and Hyderabad. It is the pioneer in third party distribution of financial products in the country.

Speaking on the occasion, Mr. Rajiv Jamkhedkar, CEO, AEGON Religare Life Insurance said, “The alliance with TSM will help us reach their existing customer base of 250,000 and the potential to target an even greater number with their expertise and reach. This tie-up is an important milestone for AEGON Religare Life Insurance. Run by 3rd generation professionals, we feel TSM will add tremendous value to the growth of our business in South India.”

Mr. K Mahalingam, Partner, T S Mahalingam & Sons added, “TSM over the last two decades has evolved to become a one stop shop for all financial needs of customers. TSM shares Aegon Religare’s vision of helping people plan their life better. With this partnership, TSM hopes to provide customised insurance products to customers and bring about a difference in the way life insurance is sold.”

AEGON Religare Premium Gain Plan (a Unit Linked Plan) will also be made available exclusively to the customers of T S Mahalingam & Sons as part of the Business Alliances strategy of having specialized products for distribution channels. Other plans such as AEGON Religare Protect Gain Plan, AEGON Religare Star Child Plan, AEGON Religare Level Term Plan (pure term plan) will also be made available to TSM’s customers.

TSM and AEGON Religare Life Insurance will jointly develop innovative marketing and branding programmes in South India.

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AEGON Religare Life Insurance

AEGON Religare Life Insurance is the coming together of AEGON, one of the world’s largest life insurance and pension groups and Religare, one of India’s leading integrated financial services groups. This venture is dedicated to build a firm future, both for customers and employees and will continue to balance a local approach with the power of an expanding global operation.

The company launched its pan-India multi-channel operations in July, 2008 with over 30 branches spread across India. In an industry first, AEGON Religare Life Insurance offers policy servicing on the phone via Interactive Voice Response System (IVR) by issuing the customer a T-Pin for authentication. It is also the first company to include the customer’s medical report in the policy kit.

AEGON

AEGON’s businesses serve over 40 millions customers in over 21 markets throughout the Americas, Europe and Asia, with major operations in the United States, the Netherlands and the United Kingdom. With headquarters in The Hague, the Netherlands, AEGON companies employ more than 30,000 people worldwide. The company’s common shares are listed on four stock exchanges: Amsterdam, London, New York and Tokyo. It manages EUR 371 billion in assets under management. AEGON has more than 160 years of experience with its roots going back to 1844.

RELIGARE

Religare has a truly pan-India footprint going well beyond Tier-1 cities, present through more than 1550 locations spread across over 460 cities and towns. Religare’s businesses are broadly clubbed across three key verticals - the retail, institutional and the wealth spectrum. Structurally, all businesses are operated through 10 subsidiaries held by the holding company Religare Enterprises Limited.

About TSM

T S Mahanlingam & Sons (TSM) pioneers in the used car business since 1935 is one the largest used car players in the country with a presence in the southern cities of Chennai, Bangalore, Hyderabad and Comibatore. In 1988, TSM diversified into the distribution of financial products of leading entities like CitiGroup, HDFC Group, Tata Capital, Club Mahindra and now AEGON Religare. In the last five years, TSM has also entered into real estate advisory services and real estate development category. TSM operates out of four locations in India with over 1,000 employees serving close to three lakh customers.

Source : India PRWire.com