Rajan Raheja group gets nod for general insurance venture

December 16th, 2008 - 7:58 pm ICT by IANS  

Chennai, Dec 16 (IANS) The Insurance Regulatory and Development Authority (IRDA) has given the green signal to the Mumbai-based Rajan Raheja Group to enter the general insurance segment. Group company Prism Cement Ltd and Australian QBE Insurance Group have floated a joint venture, Raheja QBE General Insurance Co, for this.

The Indian group is already present in the life insurance sector through group company Exide Industries Ltd, which holds a 49.13 percent in the Bangalore-based ING Vysya Life Insurance Co Ltd.

With this, the total number of general insurers in India has gone up to 21.

Related Stories

Tags: , , , , , , , , ,

Posted in Business |