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AMP Sanmar Assurance Company Limited |
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| Sanmar Group | ||
| The Sanmar group is one of the largest industrial groups in South India, with a turnover for 1998-99 of close to Rs.10 billion. The group’s businesses are professionally managed by its over 650 highly qualified managers. It has a significant presence in the businesses that have been identified as its ‘core’ areas: PVC/ Chlorochemicals, Speciality Chemicals, Shipping and Engineering. | ||
| AMP | ||
| AMP Limited is one of the world's leading financial services businesses providing around nine million customers world-wide with wealth creation and asset protection products and services. AMP has been the largest life insurer in Australia, and one of the largest in NZ, for most of the last century and is a major provider of superannuation and asset management products and services. AMP has a significant presence in the UK through Pearl, London Life, Virgin Direct and Henderson | ||
| The Joint Venture | ||
| The initial paid up capital of the joint venture is Rs. 125 crore, wherein AMP would have a stake of 26 percent and the Sanmar Group would hold 74 percent. The company expects to break even by the end of seventh year of its operations. AMP Sanmar is targeting to sell 30,000 policies in the first year of its operations in India and hoping to collect Rs. 26 crore in premiums in this period. | ||
| Contact Address | ||
| AMP Sanmar Assurance Limited 9, Cathedral Road, Chennai 600 086 Ph : 91 44 8118411 Fax: 91 44 8117669 |
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