>BrownHairedGirl at 12:56, 18 April 2021

2021-04-18T12:56:48Z

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{{Advert|date=April 2021}}
{{Use dmy dates|date=April 2020}}
{{Use Indian English|date=September 2018}}
{{Infobox company
| name = Aegon Life Insurance Company
| logo =
| type = [[Private company]]
| foundation = {{start date |2008}}
| location_city = [[Mumbai]], India
| industry = [[Financial Services]] & [[Insurance]]
| area_served = [[India]]
| key_people =Satishwar Balakrishnan ([[MD and Chief Executive Officer|MD and CEO)<ref>https://economictimes.indiatimes.com/industry/banking/finance/insure/aegon-life-insurance-elevates-satishwar-balakrishnan-as-md-and-ceo/articleshow/80843137.cms?from=mdr</ref>]]

Naveen Bachwani ([[Chief Operating Officer|COO]])<ref>{{cite news |last1=Venugopalan |first1=Anjali |title=Aegon Life Insurance appoints Naveen Bachwani as Chief Operating Officer |url=https://economictimes.indiatimes.com/industry/banking/finance/insure/aegon-life-insurance-appoints-naveen-bachwani-as-chief-operating-officer/articleshow/74319199.cms?from=mdr |publisher=[[The Economic Times]] |date=February 26, 2020}}</ref><br />
| products = [[Insurance]]
| owner = {{ubl |[[Aegon N.V.]] (49%) |[[The Times Group|Times Group]] (Bennett, Coleman and Company) (51%) }}
| homepage = {{url |https://www.aegonlife.com/ }}
}}

'''Aegon Life Insurance Company''' (formerly known as '''Aegon Religare Life Insurance Company''') is an Indian [[life insurance]] company, founded in 2008 with headquarters in [[Mumbai]], India, offering individual and group insurance online and offline.<ref>{{cite news |last1=Saraswathy |first1=M |title=After going 100% online, Aegon Life Insurance looks at slow, but steady growth path |url=https://www.moneycontrol.com/news/business/companies/after-going-100-online-aegon-life-insurance-looks-at-slow-but-steady-road-growth-2972541.html |publisher=[[Moneycontrol.com]] |date=September 21, 2018}}</ref><ref>{{cite news |last1=Ray |first1=Atmadip |title=Aegon Life to focus on term insurance for growth |url=https://economictimes.indiatimes.com/industry/banking/finance/insure/aegon-life-to-focus-on-term-insurance-for-growth/articleshow/65109892.cms?from=mdr |work=[[The Times of India]] |date=July 23, 2018}}</ref>

It is a joint venture between Dutch [[Aegon N.V.]], a multinational [[insurance]], [[Pension|pensions]] and [[asset management]] company, and [[The Times Group]] (also called [[Bennett, Coleman & Co.|Bennett Coleman & Co.]] Ltd), one of India’s largest media conglomerates.<ref name=economictimes>{{Cite news|url=http://economictimes.indiatimes.com/wealth/personal-finance-news/aegon-religare-life-insurance-renamed-as-aegon-life-insurance/articleshow/50078788.cms|title=Aegon Religare Life Insurance renamed as Aegon Life Insurance|date=7 December 2015|work=[[The Economic Times]]}}</ref>

== Corporate history ==
In July 2006, AEGON and the [[Ranbaxy Laboratories|Ranbaxy Group]] announced its intention to enter the insurance business in India. The partnership of AEGON, [[Religare]] & Bennett, Coleman & Company formed AEGON Religare Life Insurance Company Limited and launched in July 2008.

In 2015, Aegon increased its stake in the venture to 49% while Religare Enterprises announced it was exiting the venture<ref>{{Cite news|url=http://www.business-standard.com/article/finance/religare-to-exit-life-insurance-jv-115051201187_1.html|title=BCCL to buy out Religare stake in life insurer|date=13 May 2015|work=[[Business Standard]]}}</ref><ref>{{Cite news|url=https://www.vccircle.com/religare-exit-life-insurance-venture-aegon/|title=Religare to exit life insurance venture with Aegon|date=26 September 2014|work=[[VCCircle]]}}</ref> by selling its entire shareholding in the company, 44%, to Bennett, Coleman and Company, the [[holding company]] of the [[Times Group]].<ref>{{Cite news|url=https://www.vccircle.com/bccl-buy-religares-44-stake-life-insurer-aegon-religare/|title=BCCL to buy Religare's 44% stake in life insurer Aegon Religare|date=14 May 2015|work=[[VCCircle]]}}</ref> This led to the rebranding from Aegon Religare Life Insurance Company to Aegon Life Insurance Company.<ref name=economictimes/>

In September 2019, it partnered with [[Paytm]] to offer comprehensive insurance products.<ref>{{cite news |last1=Sanghvi |first1=Disha |title=Aegon Life to sell insurance through Paytm to strengthen digital presence |url=https://www.livemint.com/companies/news/aegon-life-to-sell-insurance-through-paytm-to-strengthen-digital-presence-11569726904484.html |publisher=[[Livemint]] |date=September 29, 2019}}</ref> In March 2020, the company entered into partnership with [[Flipkart]] to sell paperless life insurance policies on their platform.<ref>{{cite news |title=Flipkart teams up with Aegon to sell life insurance policies |url=https://www.businesstoday.in/current/corporate/flipkart-teams-up-with-aegon-sell-life-insurance-policies-on-platform/story/398361.html |publisher=[[Business Today (India)|Business Today]] |date=March 16, 2020}}</ref>
== Products and services ==
Aegon Life Insurance's distribution channels include banks, individual agents, brokers, and corporate agents, bancassurance partners, among others.<ref>{{cite news |title=AEGON Religare ties up with Asia's largest co-op bank |url=https://www.business-standard.com/article/press-releases/aegon-religare-ties-up-with-asia-8217s-largest-co-op-bank-110040700124_1.html |publisher=[[Business Standard]] |date=January 21, 2013}}</ref> The company offers term insurance plans, savings and investment plans, child plans, and [[Unit-linked insurance plan|unit-linked insurance plans]] (ULIPs). In May 2018, the company launched the 'iTerm' plan, which offers insurance cover up to 100 years.<ref>{{cite news |last1=R |first1=Venkatesan |title=Aegon 'iTerm' plan offers life cover up to 100 years |url=https://www.thehindubusinessline.com/money-and-banking/aegon-iterm-plan-offers-life-cover-up-to-100-years/article23967634.ece |publisher=[[The Hindu Business Line]] |date=May 23, 2018}}</ref> It launched a new version of its 'iTerm' Insurance Plan in November 2019<ref>{{cite news |last1=Kulkarni |first1=Preeti |title=New life, health insurance products launched. Find out if they work for you |url=https://economictimes.indiatimes.com/wealth/insure/new-life-health-insurance-products-launched-find-out-if-they-work-for-you/articleshow/72601932.cms |publisher=[[The Economic Times]] |date=December 16, 2019}}</ref> that provides regular monthly income after the age of 60.<ref>{{cite news |title=Aegon Life Launches First-Ever Term Plan With Protection And Monthly Income #Notermplanlikethis |url=http://www.businessworld.in/article/Aegon-Life-Launches-First-Ever-Term-Plan-With-Protection-And-Monthly-Income-Notermplanlikethis-/04-11-2019-178464/ |publisher=[[BusinessWorld]] |date=November 4, 2019}}</ref><ref>{{cite news |last1=Kulkarni |first1=Preeti |title=New life, health insurance products launched. Find out if they work for you |url=https://economictimes.indiatimes.com/wealth/insure/new-life-health-insurance-products-launched-find-out-if-they-work-for-you/articleshow/72601932.cms |publisher=[[The Economic Times]] |date=December 16, 2019}}</ref><ref>{{cite news |title=Aegon Life offers cover till 100 years |url=https://timesofindia.indiatimes.com/business/india-business/aegon-life-offers-cover-till-100-years/articleshow/71913401.cms |work=[[The Times of India]] |date=November 5, 2019}}</ref>
== Recognition ==
* In 2019, Aegon Life Insurance was awarded as eBusiness Leader – Medium & Small at World BFSI Award by World BFSI Congress.<ref>{{cite web |title=World BFSI Award Winners 2019 |url=http://worldbfsicongress.org/BFSI_Win19.html |publisher=Worldbfsicongress.com}}</ref>
* Aegon Religare Life Insurance awarded as E-Business Leader by Indian Insurance Award in 2013.<ref>{{cite news |title=AEGON Religare Life Insurance awarded as E-Business Leader by Indian Insurance Award |url=https://www.myinsuranceclub.com/insurance-news/aegon-religare-life-insurance-awarded-as-e-business-leader-by-indian-insurance-award |publisher=Myinsuranceclub.com |date=July 20, 2013}}</ref>
== See also ==
* [[List of insurance companies in India]]
==References==
{{reflist|30em}}
== External links ==
* [https://www.aegonlife.com/ Official website]
{{Insurance in India}}
[[Category:Financial services companies based in Mumbai]]
[[Category:Life insurance companies of India]]
[[Category:Indian companies established in 2008]]
[[Category:2008 establishments in Maharashtra]]

Aegon Life Insurance Company - Revision history

>BrownHairedGirl at 12:56, 18 April 2021