L&T General Insurance Company has decided to inject Rs. 500 crore in coming three years in its operations. L&T General Insurance is a subsidiary of 11.7-billion dollars L&T Group. It has completed one year of operation and in the same period has accumulated a premium income of around Rs. 80 crore.
The insurer has 33 products and major part of its product is motor insurance, which makes up about 55% of the total business. The company has offices at around 1,000 locations in the country and has released 60,000 policies in the first year of operations.
L&T General Insurance has launched its first health insurance policy “My: health Medisure Prime Insurance” which is suitable for both individuals and families.
This policy offers insurance cover from Rs. 3 lakh to Rs. 10 lakh. For an insurance cover of Rs. 3 lakh for an individual between age of 26 years and 35 years, the annual premium will amount to Rs. 6,600 and Rs. 7,700.
