Vakrangee Partners with Tata AIG to Offer General Insurance Products

Vakrangee Limited has announced a corporate agency partnership with Tata AIG General Insurance Company Limited. This agreement will allow Vakrangee to offer Tata AIG’s general insurance products, including health, motor, travel, and other insurance plans, through its network of Vakrangee Kendras. 

The partnership is focused on expanding access to insurance services, especially in areas where such financial products are not easily available.

Reaching Underserved Areas

Vakrangee Kendras are multi-service outlets providing various financial and digital services. A significant 83% of these outlets are in Tier-4 to Tier-6 locations, making them positioned to serve communities with limited access to insurance.

Apart from insurance, Vakrangee Kendras offer banking, ATM access, e-governance, assisted e-commerce, and healthcare services. The company has been expanding its service portfolio through partnerships with multiple businesses. 

Financial Performance 

In Q3 FY2024-25, Vakrangee reported a total income of ₹6,863 lakh, showing a 31.7% increase YoY. Its profit before tax stood at ₹161.3 lakh, marking a 72% rise compared to the previous year. For the nine-month period, total income reached ₹19,429.6 lakh, while profit before tax saw a 110.1% increase to ₹590.6 lakh. 

Vakrangee has a market capitalisation of over ₹1,900 crore. LIC holds a 4.41% stake, while FIIs increased their stake to 2.82% in December 2024 from 2.74% in September 2024.

Vakrangee Limited’s stock is trading at ₹17.68, down ₹0.93 (5.00%) as of February 7, 11:20 AM. Over the past six months, the stock has declined by 19.20%, and over the past year, it has dropped by 35.73%.

About Tata AIG

Tata AIG General Insurance, a joint venture between the Tata Group and American International Group (AIG), started operations in 2001. The company has ₹30,577 crore in assets under management (AUM) as of December 2024 and operates 249 branches across India. 

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