Edelweiss Tokio Life Insurance files FIPB application for foreign stake increase to 49% in the Joint Venture
Mumbai, 28th May, 2015: Edelweiss Tokio Life Insurance, India's fastest growing life insurance company, has filed an application with the Foreign Investment Promotion Board (FIPB) for increasing stake of its JV partner Tokio Marine from 26% to 49% in the Company.
Since inception in 2011, in the short span of four years, the Company has expanded its distribution footprint across agency and alternate channels and has built a nationwide network of 59 branches across 49 major cities in India with over 10,000 Personal Financial Advisors. Edelweiss Tokio Life Insurance is the winner of Rising Star Insurer Award in 2013 and has gained recognition for its fund management. Edelweiss Tokio Life Insurance funds have been rated top performers by Morningstar. Five of Six individual ULIP funds have been rated 5 Star as on March 31, 2015.
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance, India's fastest growing life insurance company, is a joint venture between Edelweiss Financial Services, one of India's leading diversified Financial Services companies and Tokio Marine Holdings Inc. a global leader with over 135 years of experience in the insurance business. This lineage brings together Edelweiss Group's deep understanding of the Indian customers and Tokio Life's international benchmarks .The company's approach is to help its customers meet their life-stage financial goals by providing them innovative insurance products that have been designed with the needs of the Indian customers in mind.
Edelweiss Tokio Life Insurance is expanding its presence in a phased manner. The company is now present in Maharashtra, Gujarat, Delhi, NCR, Chandigarh, Punjab, Haryana, Goa, Karnataka, Andhra Pradesh, Jharkhand, West Bengal, Orissa, Bihar, Himachal Pradesh, Madhya Pradesh; Uttar Pradesh and Rajasthan with 59 branches pan India.
Edelweiss Tokio Life Insurance has engaged a team of professional Personal Finance Advisors (PFAs) who are trained to adopt the customer centric selling model and recommend products only after understanding and analyzing customer needs.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
To learn more about the Edelweiss Group, please visit www.edelweissfin.com
To learn more about the Tokio Marine Holdings Inc, please visit www.tokiomarinehd.com/en
Ankit Chothani / Mona Kwatra
Edelweiss Financial Services Ltd
Handphone: +91 98333 70569/ +91 98202 10441
Tel: +91 (22) 4088 6305/ +91 (22) 4040 7545
Handphone: +91 99208 83234