Aegon, which operates in 14 countries and ranked as the third largest insurance player, is eagerly waiting to enter life insurance sector shortly. It already operates as a foreign financial institution in the country. The company has a separate set of plans for insurance operations.

``We are long-term players in India and will strengthen our presence in the country over a period of time,'' said Bert Jaap Brons, India chief, Aegon.

Regarding the company's insurance plans, Brons said that the company will undertake life and pension businesses. The company's 95 per cent global earnings come from life and pension business and 95 per cent earnings are generated from three major market including the US, Holland and the UK. The company, which will be picking up 26 per cent in Indian insurance joint venture, is looking partners from financial, non-financial sector in the country.

The regulatory framework in India has moved in the right direction and a few more things are expected to be sorted out before the company finalises a decision about the joint venture. The company has already prepared the ground work and is in the process of putting all the technical support together for the joint venture. The insurance operation will take seven to eight years to stabilise and the company is prepared invest whatever the amount to make the business successful.

``We are extremely focussed on our business plan and will launch different products for the different segments of the population. Rural market is quite an attractive market in India,'' he said. Also as a part of the investment policy, the company invests more than 50 per cent of its fund in Government securities.