AMP Sanmar Life Insurance Co. Ltd. announced the launch of ‘Kanaka Shree’ – the Unit Linked Investment Plan on 28 July 2004 at Chennai. (www.ampsanmar.com) ‘Kanaka Shree’ combines the security offered by a life insurance policy with the opportunity to earn high returns on the invested premiums.
Introducing the product, Graham Meyer, Managing Director, AMP Sanmar said, “We are delighted to announce the addition of Kanaka Shree to our existing product portfolio. Kanaka Shree offers a host of options and we are confident the plan with immense flexibility will get a very good response.” AMP Sanmar has drawn on the proven expertise of AMP (the No.1 provider of pension and investment products in Australia and New Zealand with over 40% market share) in innovative product design and actuarial knowhow, to customise Kanaka Shree to suit diverse customer needs. The uniqueness of Kanaka Shree is its tremendous flexibility. To start with, depending on the risk-return appetite, the customer has the option to choose from four tailored investment funds:
• Capital Secure Fund which focuses on financial security, where 100% investments are in bank deposits, Government bonds, etc.
• Balanced Fund where a major portion is invested in Fixed Income securities while a small percentage (not exceeding 20 %) is invested in the equity market
• Growth Fund taps into the high return opportunities offered by the equity markets with a greater portion of investment in the equity markets (not exceeding 40 %)
• Equity Fund offers a totally equity based investment option with a high risk-high return profile.
Additionally Kanaka Shree provides options such as switching between funds, redirection of investments in funds, top up of premium to capitalize on buoyant market conditions or withdraw from investments in times of need, etc. On the insurance cover too the options are many. One can change the sum insured (subject to a minimum of Rs.100,000/-), maximise investment returns while maintaining risk cover, change risk cover options to suit changing life cover requirements or change the nominated beneficiary. Kanaka Shree also offers Add-on Riders for Accidental Death and Total & Permanent Disablement Benefit.
The corpus will be managed by a team of highly experienced investment managers who will work closely with their counterparts in AMP Australia. “Our Advisors have also undergone special training to gain a good grounding in counselling regarding
securities investment which is an integral part of this product. We believe this will help them put across the multifaceted product benefits, especially to our audience in the B & C centres, where we have good penetration. As the unit linked insurance plans are very popular in India, we expect Kanaka Shree would contribute considerably to our business income in the next few years,” said Meyer.
The oldest employee of the Sanmar Group, Prabhakar Rao, who has an MA in Economics, joined Chemplast in 1980. He was earlier head of PR at the India Cements Limited (1968-1980), an associate company of the group, having started his career in 1961 with the Hindustan Chamber of Commerce & Industry.
To many in Chennai, especially in media and government circles, S B Prabhakar Rao is synonymous with the Sanmar Group. He has, over the decades been a strong pillar of the community, not only of the Telugu speaking people of Chennai, but of the larger populace of the city, playing a vital role in the city’s cultural life. The World Telugu Federation’s decision to honour him on the occasion of their 12th anniversary celebrations at Vani Mahal, Chennai, on 11 September, therefore, came as no surprise.
Prabhakar Rao being honoured by B S R Krishna, Magunta Srinivasulu Reddy, MP, D K Audikesavulu, MP and Dasari Narayana Rao, Union Minister of State for Coal and Mines.
It was fitting recognition of Prabhakar Rao’s valuable contributions as Honorary Vice Consul for Denmark in South India, Secretary of the TTD Local Advisory Committee, and Executive Director - Corporate Affairs, of the Sanmar Group. Union Minister of State for Coal and Mines Dasari Narayana Rao, who was the chief guest, Magunta Srinivasulu Reddy and D K Audikesavulu, both MPs, J Srinivasulu Reddy, D V S Raju, former President, Film Federation of India and Mrs Indira
Dutt, President, World Telugu Federation, were among those who offered him felicitations at the function. Born on 11th September 1938, Prabhakar Rao hails from Kavali in Nellore District, Andhra Pradesh. In his career with the Chamber, he was instrumental in bringing together trade, industry and Government on many issues. During this period, he brought out a number of publications, including the monthly journal of the Chamber, proceedings of a “Colloquium on Industrial Development”, a book titled “Progressive Madras State” and several other publications and brochures.
He was actively involved in the conduct of a number of seminars and conferences for the promotion of industry, trade, commerce, exports and management in this part of the country, and facilitated several business delegations from abroad.
He was its Deputy Secretary before he joined India Cements in May 1968. During his 12-year stint with India Cements, he made a significant contribution towards building the image of the company. According to the World Telugu Federation’s citation, Prabhakar Rao “is a livewire personality with seemingly inexhaustible energy” and anyone with a nodding acquaintance with him will agree. The citation continues: “It would not be an exaggeration to say that over the decades, there has been no major event in Chennai without Mr Rao’s involvement.”
Prabhakar Rao’s organisational skills, still very much evident in any major Sanmar event, do indeed go back a long way. For instance, he was a member of the reception committee of the National Games organized in Chennai in 1967 and the International Tamil Conference in 1968, hosted by the Government of Tamil Nadu. Earlier, he was also associated with the organizing committee of the first International Trade Fair held in Chennai in 1966. He was the Secretary of the Souvenir Committee of the World Telugu Conference in 1995. “Amidst all my activities, what truly gives me peace and happiness is the time I devote to spiritual activities as the Secretary of the TTD Information Centre in Chennai,” says Prabhakar Rao. He has been largely responsible for the allround development of the Centre, “a beehive of spiritual activities.”
D V S Raju, Former President, Film Federation of India and WTF greeting Prabhakar Rao. To his left is N Rangabhashyam, Treasurer, NTF.
Prabhakar Rao’s acceptance speech.