Chandigarh, November 30, 2016: Edelweiss Tokio Life Insurance Company,the life insurance JV between Edelweiss Group and Tokio Marine Holdings of Japan provided a Rs. 1 Crore Life Cover to each of the Paralympians who received a medal for India at the Rio Paralympics 2016
The Rs. 1 crore cover has been given to each of the Paralympians- Mariyappan Thangavelu, Devendra Jhajharia, Deepa Malik and Varun Singh Bhati. They were felicitated at ‘’Edelweiss Titans’’,the annual rewards and recognition program, to felicitate over-achievers within the Edelweiss Group.Edelweiss was announced as the Principal Sponsor of the Indian Olympic team in April this year, and was the first and only diversified financial services firm to sponsor the Indian contingent at the Rio Olympics.
Edelweiss has had a long and consistent association with sports, and through its philanthropic arm, Edel Give Foundation, it has supported various sports personalities including M. C. Mary Kom, P. V.Sindhu and Ayonika Paul, amongst others. After being the official sponsors for the Indian Olympic team, the thought of extending this association with the Paralympians just goes on to showing Edelweiss’sall round commitment towards supporting sports and the remarkable athletes of our country who do the nation proud.
Last year, the Group signed on Saina Nehwal as its Brand Ambassador.Sponsoring the Indian Olympic team was a strategic fit for the Edelweiss Group, as it has transformed from an advisory house into an efficient, productive and profitable, credit and financial services institution, and is at the cusp of the next stage of growth.
Speaking on the occasion, Mr. Rashesh Shah, Chairman, Edelweiss Group said that, “The Paralympians have an unmatched appetite for success and they always strive to conquer higher endeavours, yet remain down to earth with their sole focus being the game. While facing challenges every day, they are highly focused and consistent - these are some of the values we hold high at Edelweiss too. We are proud of how they have kept India’s flag soaring high at the Paralympics, and are glad to have them here.”
Mr. Deepak Mittal, MD & CEO, Edelweiss Tokio Life Insurance added, “During the Rio Olympics earlier this year, Edelweiss Tokio Life Insurance had provided a Rs. 1 Crore cover to every athlete who represented India. Mariyappan, Devendra, Deepa and Varun, face many more hardships than any of us, and not only went on to represent our country, but also won medals for it. Thiscover is a token of our appreciation for all their hard work and dedication that has made India proud.”
At the event, Deepa Malik said, “In a land of bollywood and cricket, it is heart warming to see Paralympians being felicitated.” Post the event she tweeted, @EdelweissFin heartiest thanks for 1 Cr insurance cover to us.
Similarly Devendra Jhajharia thanked Edelweiss for the gesture in his tweet, “Thank you@EdelweissFin for the lovely gesture and an amazing evening. Bahutmazaaayaaapsabke saath.”
About Edelweiss Group:
The Edelweiss Group is one of India's leading diversified financial services company providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss's products and services span multiple asset classes and consumer segments across domestic and global geographies. Its businesses are broadly divided into Credit Business (Wholesale Credit comprises of Structured Collateralised Credit to Corporates, Wholesale Mortgage and Distressed Assets Credit. Retail Credit comprises of housing finance, loan against property, LAS, SME and Agri Finance, and Rural Finance), Non-Credit Business (Wealth Management, Asset Management, Capital Markets, and Agri Services) and Life Insurance. The Balance Sheet Management Unit operations manage the liquidity and Balance Sheet. Edelweiss has an asset base of over INR 35,800 crore with revenue of INR 5,316 crore and net profit of INR 414 crore for FY16. Its consistent performance is evidenced by a PAT (excluding insurance) CAGR of 36% for the last four years.
The group’s research driven approach and proven history of innovation has enabled it to foster strong relationships across all client segments. The group has sizeable presence in large retail segment through its businesses such as Life Insurance, Housing Finance, Mutual Fund and Retail Financial Markets. It serves over 10,00,000 strong client base through 6,437 employees based out of 238 offices (including international offices) in 120 cities. Together with strong network of Sub-Brokers and Authorized Persons, Edelweiss group has presence across all major cities in India.