Saturday, January 30, 2010



Indian Farmers Fertilizers Co-operative Limited (IFFCO) along with its associates KRIBHCO & IPL has joined hands with the Tokio Marine & Fire Insurance Co. Ltd, Japan to set up a General Insurance Company in India. IFFCO-TOKIO General Insurance Company (ITGI) came into existence through a MOU signed by IFFCO & Tokio Marine in May 2000. In December 2000, ITGI became the first private sector insurance company, among others, to get a License to transact general insurance business from the Insurance Regulatory & Development Authority (IRDA). IFFCO & its Associates hold a majority stake of 74% in ITGI`s equity and the balance is held by Tokio Marine. It is a pioneering attempt to combine Tokio Marine’s insurance expertise, product range & global service standards with IFFCO’s brand image, wide reach & understanding of Indian market. It is thus a unique blend of insurance technology and reach in the Indian market.


Tokio Marine is a member of the highly diversified Mitsubishi group. Setup in 1879,Tokio Marine is amongst the five biggest general insurers in the world. Currently it operates in 41 countries and the premium income is around Rs 67,000 Crores (US$ 13.67 billion). It has assiduously built up its international reputation through persistent focus on product Innovation, high service standards & focus on information technology driven business process. It is committed to bring world-class products, service standards & business practices to the Indian general insurance market.

Founded in 1967, IFFCO is a leading producer of Fertilizers and is amongst the most successful Cooperative federations in the country. The turnover in year 2001-2002 was Rs. 5,100 crores, with a net worth of Rs 2,786 crores. It has a production capacity of more than 52 lacs tonnes spread over 4 locations in India. It also has a enviable distribution network comprising of 35,973 co-operative societies and 167 farmers service center.

As a Partner in Progress, IFFCO is a household name amongst Indian farmers and is widely regarded as a socially responsible corporate citizen.