Company Overview of Exide Life Insurance Company Limited
Exide Life Insurance Company Limited provides long term protection and savings solutions in India. It offers protection insurance products, such as life, health, and accident and disability insurance; savings and investments solutions for child, inheritance, life goals, and surplus for investments; and retirement corpus and pension products. The company distributes its products through agencies, banc assurance, and alliances. Exide Life Insurance Company Limited was formerly known as ING Vysya Life Insurance Company Limited. The company was incorporated in 2000 and is based in Bengaluru, India. As of October 28, 2005, Exide Life Insurance Company Limited operates as a subsidiary of Exide Ind...
ING Vysya House
22 M.G. Road
Founded in 2000
Key Executives for Exide Life Insurance Company Limited
Chief Executive Officer, Managing Director and Director
Chief Insurance Risk Officer
Chief Distribution Officer
Compensation as of Fiscal Year 2014.
Exide Life Insurance Company Limited Key Developments
ING Vysya Life Insurance has Changed its Name to Exide Life Insurance
May 5 14
ING Vysya Life Insurance changed its name to Exide Life Insurance.
Samsung Life Set To Buy 26% In ING Insurance
May 2 14
Exide Industries Limited (BSE:500086) is in advanced stages of negotiations to sell 26% of its stake in ING Vysya Life Insurance Company Private Limited (ING Life) to Samsung Life Insurance Co., Ltd. (KOSE:A032830). Sources close to the development said Exide had been scouting for a potential buyer for quite some time, adding Samsung Life was one of the companies with which its talks had progressed. The deal was likely to be announced as early as next week, the sources indicated. "We are not in a position to comment on this," said an Exide spokesperson. ING Vysya Life Insurance, too, declined comment. Samsung Life could not be reached for comment; a mail sent to its parent company did not elicit any response till the time of going to press. Exide officials refused to comment on whether the deal with Samsung Life was sealed and whether the name of the new partner would be accommodated in the new brand. Sources said though other global players were in talks for the stake sale, Samsung Life had been shortlisted as the potential buyer. A senior official of a Mumbai-based brokerage said the exits of ING and other partners had put the entire responsibility of running the business on Exide. They added, therefore, it made sense to bring in a partner such as Samsung Life, which could use its experience in the global insurance segment in India.
ING Life Insurance Launches Guaranteed Income Insurance Plan
Sep 20 13
ING Life Insurance launched ING Guaranteed Income Insurance Plan, a traditional life insurance product that offers guaranteed benefits to the customers. This plan complies with the new product guidelines applicable from October 1, 2013. ING Guaranteed Income Insurance Plan offers Guaranteed Tax-Free Regular Income from mid of policy term. The Guaranteed Income payout is at the rate of 11% to 13% per annum. The income payout is calculated on the sum assured which is derived from the premium paid by the customer.
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