Our Bureau

Mangalore , April 21

AMP Sanmar Life Insurance Company Ltd wants to establish branches within 100 km distance of each other in southern India in the next two years.

Addressing presspersons here on Thursday, the Director and Chief Operating Officer of AMP Sanmar, Mr B. Nataraj, said that the company wants to cover most of `B', `C' and `D' class cities by the end of 2006.

"We hope to be within 100-km range of customers in southern India by then. There is wealth in small towns also," he said.

Though the company had a chance to enter the all-India market, it adopted the strategy of expanding its business in `B', `C', and `D' class cities in southern India.

However, the company will look at expanding its market in the metro cities and in northern India in the first quarter of 2006.

He hoped that the company's expansion plans in southern India would bring a good number of rural customers. To cater to the needs of rural people, AMP Sanmar has tie-ups with some micro-finance institutions in Tamil Nadu and Gujarat. He said the response for these tie-ups was encouraging.

Mr Nataraj was in Mangalore to inaugurate the 11th branch of the company in Karnataka. Terming Karnataka as a high potential market for the company, he said five new branches were being opened in the State this year. Of them, the Dharwad branch was opened recently.

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