News: ING Vysya Life sets $1 b business turnover target

(BL 30/11/2006) Kolkata - ING Vysya Life Insurance, a joint venture of the ING group of the Netherlands, Exide Industries, Gujarat Ambuja and Enam, is looking at a business turnover target of $1 billion by the end of 2010.

As part of the aggressive growth plan, ING is planning to increase its paid-up equity from the present level of Rs 540 crore to Rs 1,400 crore by the end of 2009. ING Vysa Life is planning to expand gradually the capital to Rs 1,340 crore as it expects a three digit year to year business growth for the next couple of years.