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ING Vysya Life Insurance Company Pvt Limited |
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About Vysya Bank |
| Vysya Bank is one of the most aggressive of the older-generation private-sector banks. With the investment from a foreign partner, Bank Brussels Lamberts, in the equity of the bank, it is expected to gear up to effectively fight competition in the new liberalised era. Vysya Bank is a big player given its significant branch penetration. It has a very high degree of retail focus with good customer service. The Vysya Bank is one of the largest private banks in India with around 2 million customers and 480 retail outlets. |
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About ING |
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ING Group, with an asset base of over Rs. 28,42,000 crore is a global financial institution of Dutch origin, which is active in the field of banking, insurance and asset management in more than 60 countries, with nearly 90,000 employees. ING comprises a broad spectrum of prominent companies working close to the customer, many of them operating under their own brand names. |
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ING Insurance |
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ING Insurance is the worlds second largest life insurance company as per latest Fortune rankings with a client base of over 50 million since it acquired ReliaStar and Aetna Financial Services earlier this year. It is the third largest financial services company in Europe and the tenth largest financial services company in the World. |
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The Joint Venture |
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ING has joined hands with Vysya Bank, one of India's leading private sector banks, to form ING Vysya Life Insurance, which is expected to be the first Bankassurance venture in the country. Together they have roped in GMR group, which has wide ranging interests in fields such as power generation, infrastructure, manufacturing, software and banking. |
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As per the JV agreement, Vysya Bank would hold 49 per cent stake, ING 26 percent, and the GMR Group would hold 25 per cent. The paid up capital of the joint venture is Rs. 110 crore. The company which is headquartered at Bangalore has commenced its operations at Mumbai and Delhi. Mr. Yvo Metzelaar is the Chief Executive Officer cum Managing Director of ING Vysya Life Insurance. |
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Contact Address |
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ING Vysya Life Insurance |
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