Kolkata: Tata AIA Life Insurance (Tata AIA), one of the leading private life insurers in India, has reaffirmed its dedication to protecting lives with the launch of its ‘Pledge to Protect’ initiative in Kolkata. This initiative is part of the company’s ambitious goal to secure one lakh lives in Q4 FY25.
The Tata AIA Agency team in Kolkata engaged in several activities to foster community involvement and insurance awareness. On Tata AIA’s 24th Foundation Day, employees and advisors visited the ASHA Charity Home, where they interacted with approximately 100 differently-abled children, sharing moments of joy and solidarity. The initiative continued with a significant rally titled “Insurance for All Indians,” which saw participation from over 200 employees and advisors, spreading vital insurance awareness throughout the community.
Additionally, the team undertook further community support by distributing essential amenities to 100 people, serving a nourishing mid-day meal to another 100 individuals, and providing educational books to students from economically disadvantaged backgrounds.
Amit Dave, Chief Distribution Officer – Proprietary Business, Tata AIA, said, “Life insurance offers much-needed financial security to people, including the vulnerable section of society. Therefore, the responsibility for creating this awareness rests with us all. Tata AIA is committed to advancing financial inclusion and financial security for Indians through the ‘Pledge to Protect’’ movement. We are committed to expanding insurance coverage in India, and Tata AIA will tirelessly work to reach our goal of securing 1 lakh lives in the January-March quarter. ”
Under the Pledge to Protect drive, Tata AIA has undertaken diverse initiatives involving its 599 branches and over 1.43 lakh tied agents and employees across India. These include roadshows, jogger’s park activities, housing society engagements and health camps. In addition to localising outreach, the Company will collaborate with local Non-Governmental Organizations (NGOs), Panchayats, and Self-Help Groups (SHGs), enabling it to educate and onboard individuals in rural and semi-urban areas.
Over 550 Tata AIA branches have already initiated the drive, engaging close to 70,000 agents, employees and customers.
Beyond insurance, Tata AIA is also fostering financial empowerment through Jagruti, a financial literacy initiative where employees volunteer to educate underprivileged communities about essential financial tools. With a structured training module available in Hindi, English, and regional languages, employees are encouraged to share their knowledge, ensuring that at least four individuals in their network gain the confidence to make informed financial decisions. More than 3,300 Tata AIA employees have already volunteered as part of this initiative.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region.
Tata AIA reported a total Premium Income of INR 25,692 crore for FY24, up 25% from FY23. The Company continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR 7,413 crore. The Individual Death Claims Settlement ratio improved to 99.13%. The Company also achieved industry-leading Persistency performance (based on premiums), ranking #1 in four out of five cohorts.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.
The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.
In 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of more than $365 billion as on March 31, 2024.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49% joint venture in India. In addition, AIA has a 24.99% shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
