ING Vysya Life Insurance Company, a part of Dutch financial giant ING Group, has decided to hire over 3,000 advisers (agents) every month for distribution of its products.

The private insurance firm aims to hire over 15,000 advisers by this year end. Presently, ING has 70,000 advisers, out of which 30% are women.

Reports suggest that the average sale of an active agent stood at 2.2 policies a month, while the average premium amount stood at Rs 18,000.

The company has registered a growth of 24% in premium income and witnessed 27% surge in the number of policies in force, for 2008-09. However, the company has posted a loss worth Rs 140 crore in the current year, as against a loss of Rs
190 crore last year.

The company official said that it was because the firm is in growing phase and it would take some more time to wipe out the accumulated losses.

He further added that the company's main focus this year is to maintain the annual growth rate without increasing the operational expenditure, increasing the contribution from traditional products and strengthening the product portfolio.

The company expects to come in profit zone by 2011-12, which will be the tenth year of its operations. ING Vysya Life Insurance is a four-partner joint venture, in which Exide Industries has about 50% shareholding; ING has 26%, Enam Financial has 12.5% and Ambuja Cements has 11.5%.