York Life (MNYL) has finally opened its doors to a second agency. Though the official agreement hasn't been signed yet, sources say that Euro RSCG will be the new agency on board. Euro will share the business with Equus Red Cell, which has been the creative agency on the business for the last four years.
MNYL, a joint venture between New York Life and Max India, had called for a pitch in September. The insurance company had explained that its continuous growth over the last few years had prompted it to increase its brand presence in existing and newer markets. There was thus a need to have a second agency on board. MNYL was also ready to increase its advertising budget, keeping in mind its expansion plans.
Equus has been working on this brand for the last four years. It brought in former Indian cricket captain Rahul Dravid as ambassador for the brand. MNYL has decided to stick with Carat Media for its media duties.