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Monday, October 8, 2007

ING Vysya Life receives additional capital infusion. Paid up capital increases to Rs. 790 crores

ING Vysya Life today announced a capital infusion of an additional Rs. 25 crores, which increases the paid up capital to Rs. 790 crores. ING Vysya Life had entered the private life insurance industry in India in September 2000, and has sucessfully established itself in the insurance market with a pan India presence. To support its business expansion, the promoters of ING Vysya Life have further plans to infuse capital of Rs. 550 crores in the near future which will eventually raise the total paid up capital to Rs. 1,340 crores.

The company recently launched ING Positive Life, a Unit Linked Saving Solution, in line with the market trends and has received good success. The company currently has twenty one life insurance products including eight Unit Linked products, which are available through its diversified distribution platform.

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