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Rajan Raheja Group may get nod for non-life venture

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. 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.