Anil Ambani owned Reliance Capital has made announcement that the company envisages to pump Rs 2,000 crore in its insurance business segment in the coming three to five years.

While addressing the Annual General Meeting of Reliance Capital, Mr Anil Ambani, the company's Chairman remarked that it would spend Rs 2,000 crore in its insurance business, taking the total investment to Rs 4,000 crore over the next 3-5 fiscals.

Private sector based Reliance Capital is one of leading financial service conglomerate of the country.

According to the sources, through the proposed investment, the company's employee base would also be bolstered to about one lakh from the present 30,000

The staff of software giant Infosys Technologies, can now enjoy new group insurance policy by LIC. The infosys technology is the second-largest IT/ITES exporter of India with the employee strength of 97,000. All employees of the company would be covered under Rs 24,000 crore insurance policies by LIC. This is the largest ever group insurance by any organisation in India.  

The next of kin of Infosys employer is eligible to get Rs 20 lakh to Rs 80 lakh in the event of death of the employee. There is also a provision of an accident cover of Rs 10 lakh in the policy.

Cleartrip, one of the leading domestic travel portals, has teamed up with Tata AIG General Insurance Company Limited to offer domestic travel insurance solutions 'TravInsure' to its customers.

The latest launched policy will cover Cleartrip travelers against the flight delays, medical expenses incurred while traveling, lost baggage, flight cancellations due to sickness, injury or death.

The policy can be purchased online for just Rs 129 per round trip, which will cover damages ranging from Rs 1500 to Rs 7,50,000.

Bajaj Allianz general insurance has launched a new insurance policy on Friday. The new policy is branded as 'Insta Insure'. Bajaj Allianz is a joint venture between the Bajaj Group and German insurer Allianz SE. The new products will cover health segment firstly. It will be expanded under other segment on the later stages.

The new policy will work like a SIM card. The price is fixed different for different for different categories. A special code number would be provided for each new product. The policy will be activated y calling or sending SMS with the code number.

State Bank of India (SBI), the country's largest lender, is expected to finalize the terms for General Insurance joint venture with Insurance Australia Group (IAG), a well-known international insurance major by next month.

The bank is presently working on the structure of the joint venture agreement, which it expects to finalise by September, this fiscal.