IDBI Fortis Life Insurance Co Ltd, which has embarked on an aggressive drive to open 100 branches across the country during this fiscal, has formally launched their branch in Vijayawada. They already have a branch in Hyderabad, the state capital.

The company plans to set up four more branches in the State, covering the South with over 20 branches.

“With the growing incomes, more and more people want to invest their money for long term wealth building. We hope to target this segment with our unique wealth-building products that will help their money grow by protecting it from unforeseen circumstances” said Ms R. M. Vishakha, President – Bancassurance, IDBI Fortis Life Insurance Co Ltd.

The Hyderabad branch is located at Himayat Nagar Main Road, while the one at Vijayawada is at Ring Road, Venkateshwara Nagar in Gunadala.

IDBI Fortis Life Insurance is a recently launched joint-venture of IDBI, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Fortis, Europe’s banking and insurance giant.

The company launched operations in March this year, leading with their innovative concept ‘Wealthsurance’. WealthsuranceTM is a first of its kind combination of comprehensive investment choices, protected by powerful insurance options, all presented with a reasonable charge structure, making it a one stop solution to a customer’s wealth building plans. WealthsuranceTM offers investment choices such as Guaranteed Return Fund, Equity Funds, and Debt Funds etc. ensuring that the customer would find all his investment requirements satisfied with this one powerful product. The powerful insurance benefits of WealthsuranceTM ensure that a customer’s wealth plan is not affected by unforeseen events that may strike them.

“We at IDBI Fortis see a major opportunity in Andhra Pradesh not only to expand our business but to harness the state’s talent pool. IDBI Fortis, one of the fastest growing insurance companies in the country, also offers employment as well as self-employment opportunities for staff and agents respectively,” said Mr Murali Iyer, National Head – Agency & Alliances, IDBI Fortis Life Insurance Co Ltd.

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About IDBI Fortis Life Insurance Co Ltd

IDBI Fortis Life Insurance Co Ltd, is a joint venture between three leading financial conglomerates – India’s premier development and commercial bank, IDBI, one of India’s leading private sector banks, Federal Bank and Europe’s banking and insurance giant, Fortis, each of which enjoys a significant status in their respective business segments. In this venture, IDBI owns 48% equity while Federal Bank and Fortis own 26% equity each. IDBI Fortis launched its first set of products across India in March 2008, after receiving the requisite approvals from the Insurance Regulatory Development Authority (IRDA). The company offers its services through a vast nationwide network across the branches of IDBI Bank and Federal Bank in addition to a sizeable network of advisors and partners. At IDBI Fortis, we endeavor to deliver products that provide value and convenience to the customer. Through a continuous process of innovation in product and service delivery we intend to deliver world-class wealth management, protection and retirement solutions to Indian customers. Do visit www.idbifortis.com to know more.

About the sponsors of IDBI Fortis Life Insurance Co Ltd

IDBILtd. continues to be, since its inception, India’s premier industrial development bank. Created in 1956 to support India’s industrial backbone, IDBI has since evolved into a powerhouse of industrial and retail finance.Today, it is amongst India’s foremost commercial banks, with a wide range of innovative products and services, servingretail andcorporate customers in all corners of the country from over 490 branches and more than 600 ATMs.The Bank offers its customers an extensive range of diversified services including project financing, term lending, working capital facilities, lease finance, venture capital, loan syndication, corporate advisory services and legal and technical advisory services to its corporate clients as well as mortgages and personal loans to its retail clients. As part of its development activities, IDBI Bank has been instrumental in sponsoring the development of key institutions involved in India’s financial sector – such as the Securities and Exchange Board of India (SEBI), National Stock Exchange of India Limited (NSE) and National Securities Depository Ltd. Please visitwww.idbi.com to know more.

Federal Bank is one of India’s leading private sector banks, with a dominant presence in the state of Kerala. It has a strong network of over 600 branches and 500 ATMs spread across India. The bank provides over four million retail customers with a wide variety of financial products. Federal Bank is one of the first large Indian banks to have an entirely automated and interconnected branch network. They operate on the core banking platform and are RTGS/ NEFT enabled through which the Bank offers state-of-the-art technology enabled products and services. In addition to interconnected branches and ATMs, the Bank has a wide range of services like Internet Banking, Mobile Banking, Tele Banking, Any Where Banking, debit cards, co-branded credit cards, online bill payment and call centre facilities to offer round the clock banking convenience to its customers. The Bank has been a pioneer in providing innovative technological solutions to its customers and the Bank has won several awards and recommendations. Please visit www.federalbank.co.in to know more.

Fortis, a European financial services provider engaged in banking and insurance with a presence in over 50 countries, offers its personal, business and institutional customers a comprehensive package of products and services through its own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of over EUR 40 billion, Fortis ranks among the 20 largest financial institutions in Europe. Fortis’ sound solvency position and dedicated, professional workforce of over 80,000, enables it to combine global strength with local flexibility to provide its clients with optimum support and service. Please visitwww.fortis.com to know more.