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Rajan Raheja group gets nod for general insurance venture
National,Business,
Tue, 16 Dec 2008
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.
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