IFFCO-Tokio expands its footprint in Kerala

Calicut, 10 July 2009: IFFCO-Tokio General Insurance Co. Ltd. , a trusted player in general insurance, today announced the launch of its new office in Calicut, Kerala. With this addition, IFFCO-TOKIO strengthens its commitment to the state and aims at enhancing customer convenience and accessibility of its products and services. The office was inaugurated by Shri M.Bhaskaran, Worshipful Mayor of Calicut, and Shri Mehboob, President, Kozhikode DCB was the Guest of Honour.

The office is located on the 2nd Floor, Al Rahaba Arcade, Pushpa Junction, Kallai Road in Calicut. Mr. Vinu V will be heading the office along with a team of qualified sales and service personnel.

Speaking at the occasion, Mr. Sunder B Nayak, Business Head, Kerala, IFFCO TOKIO General Insurance Co. Ltd. Said, “We have received tremendous response from our customers in Trivandrum, Kochi, and Thrissur. There is immense potential in Calicut and we look forward to serving the customers in this market. With another Branch Office in Kerala, we will be in an even better position to address the general insurance needs of people residing in this state. The Calicut branch office will also serve the adjoining districts of North Kerala, besides servicing the prestigious tie-up with Kozhikode DCB”

The Company’s present focus for Kerala is to open new “Bima Kendras” (micro offices) at Wayanad, Palakkad, Alappuzha & Pathanamthitta. The “Bima Kendras” are already functioning in Kannur, Attingal, Kottayam & Kollam. This initiative aims at facilitating IFFCO-Tokio’s insurance products more accessible to the people in general, and co-operatives in particular. Besides, expanding in the retail sector with tie-ups with Vehicle dealership points, NBFCs and recruitment of a vibrant Agency force are high on the agenda in the state.

Also speaking at the launch of the branch, Mr. Raj K Bora, Head – Corporate Planning & Brand Management, IFFCO Tokio General Insurance said, “Kerala is an important market for IFFCO Tokio and with the launch of the Calicut branch, the company has further strengthened its commitment towards bringing the benefit of insurance to the people of Kerala with innovative products and best-in-class services. We hope to intensify our association with cooperative bank/ model in the state and our products shall be well received by customers of Calicut as well.”

IFFCO-Tokio General Insurance has an association with Co-operative Insurance Society (COINS); and through this tie-up, the company had insured over 60% of the co-operative societies and banks in the State. The Company is also associated with Kozhikode District Co-operative Bank, Trivandrum District Co-operative Bank, and Kerala State Co-operative Bank. Moreover, IFFCO Tokio also has other tie-ups with major Service Co-operative Banks in Kerala.

About IFFCO TOKIO General Insurance Co. Ltd.

IFFCO Tokio General Insurance Company is a joint venture promoted by Indian Farmers Fertiliser Co-operative (IFFCO) and its associates and The Tokio Marine and Nichido Fire, the largest insurance company in Japan. The contribution of IFFCO is 74 percent, while Tokio Marine has contributed 26 percent through Group Company Tokio Marine Asia Pte Ltd. Tokio Marine has been awarded as Asia’s General Insurance Company of the year (2008) by the prestigious Asia Insurance Review. IFFCO Tokio has a widespread network of more than 170 offices across the country with many more in the pipeline during the coming year. The objective behind opening new offices is to cover the enormous spread of the country and reach the masses.