MAJOR INVESTORS

• Reliance Capital is planning US$ 432.26 million as investment for its insurance business over the next three to five years.
• Max New York Life Insurance has announced a strategic business alliance with ALEgION Insurance Broking wherein, the latter would sell Max Vijay in Kerala and Tamil Nadu. Under the first of its kind distribution initiative, ALEgION will distribute 'Max Vijay' through a fleet of Maruti vans, which would be used as mobile financial service distribution offices.
• The largest insurer in the country would also be investing another US$ 3.67 billion in government securities. This would take LIC’s total investments in the remaining period of the current fiscal to around US$ 10.19 billion, over and above the US$ 20.87 billion it has already invested in the first eight months of the current financial year.
• Bharti AXA General Insurance (a JV between the Bharti Enterprises and AXA) is planning to invest US$ 152.92 million spread over the next five years.
• Ranked among the top five life insurance companies, Birla Sun Life Insurance is planning US$ 274.30 million as investment for further expansion. It is presently the fastest growing life insurer in 2008–09, with a 187 per cent growth in new business during the first quarter.
• In the first quarter of 2008–09, insurance companies have invested US$ 3.18 billion in equities, which is four times of what was invested a year ago.