ING Vysys Life will increase its paidup capital by 90 crore to Rs 200 crore in the next two years. A joint venture between ING Insurance Internation, Vysya Bank and GMR Technologies with stakes of 26:49:25 is planned.

The company is expected to expand its customer base to to million in India over the next two years.

The company is planning to cover 20 cities by next year from the current three, and will have a base of 2000 agents.

The company as a promotional campaign for Diwali has announced to its existing policy holder, a contribution towards increasing the life cover of each policy holder by 50 percent for the first year of policy at no extra charge.

Besides life insurance, the company is also planning to enter the pension fund market segment.