Rajan Raheja Group may get nod for non-life ventureRajan Raheja Group (RRG) is likely to get permission from IRDA to set up a general insurance joint-venture with Australia's QBE Insurance group. IRDA board has given its first-level clearance to the proposed venture.
Apnainsurance.com Research Bureau
30 Apr 2008
Rajan Raheja Group (RRG) is likely to get permission from IRDA to set up a general insurance joint venture with Australia's QBE Insurance Group. The Insurance Regulatory and Development Authority (IRDA) board has given its first-level clearance proposed venture.
In the proposed JV, RRG Group Prism Cement, the group will hold a 74 per cent stake, while QBE Insurance Group will hold the remaining 26 per cent.
RRG is also a shareholder in ING Vysya Life Insurance and ING Mutual Fund.